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24314 the Old Rd, Santa Cla...

Andover Properties Acquires Property In Newhall For $28 Million With Broker Luke Elliott And Greg Wells
SOLDSelf Storage

Andover Properties Acquires Property In Newhall For $28 Million With Broker Luke Elliott And Greg Wells

24314 the Old Rd, Santa Clarita, CA 91321, USA

$28,000,000

$264/SF

Building Size

105,743 SF

Asset Type

Self Storage

Closing

Aug 29, 2021

AI

The property asset involved in this transaction is located at 24314 the Old Rd, Santa Clarita, CA 91321, within the Newhall market. The property was sold for a transaction amount of $28,000,000.00 and encompasses a total square footage of 105,743 square feet.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $28,000,000.00
  • Address: 24314 the Old Rd, Santa Clarita, CA 91321, USA
  • Market: Newhall
  • Seller: World Class Property Co
  • Buyer: Andover Properties
  • Seller's Representatives: Luke Elliott-Cushman & Wakefield, Greg Wells - Cushman & Wakefield

This transaction involved the interaction of multiple parties, with World Class Property Co serving as the seller and Andover Properties as the buyer. The negotiation was facilitated by the seller's representatives, Luke Elliott-Cushman & Wakefield and Greg Wells from Cushman & Wakefield, who played key roles in bringing the deal to fruition.

Players

Luke Elliott

Cushman & Wakefield

Broker

$260.3M

vol

15 deals

Broker
Andover Properties
Andover PropertiesBuyer

Newhall Self Storage Market Snapshot

Boundary boundary · Self Storage · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93