Updated Dec 4, 2024
Acadia Realty Trust Acquires Retail Property In West Hollywood For $47.8M
8436 Melrose Place, West Hollywood, CA 90069, USA
$47,800,000
$3,186/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
Nov 17, 2019
About this deal
AI
A retail property located at 8436-8452 Melrose Pl in West Hollywood has been sold for $47,800,000. The property spans over 15,000 square feet, resulting in a price per square foot of $3,186. The transaction took place on November 18, 2019.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $47,800,000
- Square Footage: 15,000
- Price per Square Foot: $3,186
- Market: West Hollywood
The seller of the property was VE Equities, while the buyer was Acadia Realty Trust. The deal was facilitated by the broker Jay Luchs from Newmark Knight Frank.
On the Map
$47,800,000
$3,186/SF
Retail
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Players
West Hollywood Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93