Updated Oct 29, 2024
DJM Capital And Fortress Investment Group Acquire Adams Marketplace In Huntington Beach For $26.5M
9062 Adams Ave Huntington Beach, CA 92646, USA
$26,500,000
$407/SF
Building Size
65,116 SF
Asset Type
Retail
Closing
May 4, 2023
About this deal
AI
A joint venture between DJM Capital and Fortress Investment Group has acquired Adams Marketplace, a 65,116-square-foot shopping center in Huntington Beach, California. The property, located at 9062 Adams Ave., was purchased for $26.5 million, or $407 per square foot. It is currently occupied by 18 tenants, including Smart & Final Extra, Petco, Starbucks, and MemorialCare Medical. The shopping center is conveniently located near the Pacific Coast Highway and Interstate 405.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $26,500,000
- Square Footage: 65,116
- Price Per Square Foot: $407
- Market: Huntington Beach
DJM Capital, represented by John Miller, and Fortress Investment Group, represented by Peter L. Briger, Jr, were the buyers in this transaction. The seller was Merlone Geier.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93