Ares Management Acquires Property From 2253 Apparel Inc For $59.3 Million With Brokers Cody Lerner And Carol Taubman
100 Walnut Ave, Perris, CA, 92571
$59,300,000
$288/SF
Building Size
205,600 SF
Asset Type
Warehouse
Closing
Dec 9, 2022
AI
The property asset involved in the transaction is located at 100 Walnut Ave, Perris, CA, 92571. The transaction was executed for a total price of $59,300,000.00, encompassing a square footage of 205,600 in the Perris market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $59,300,000.00
- Address: 100 Walnut Ave, Perris, CA, 92571
- Market: Perris
- Buyer: Ares Management
- Seller: 2253 Apparel Inc
- Buyer's Representative: Cody Lerner (Avison Young)
- Seller's Representative: Carol Taubman (Westgate Industrial Properties)
- Square Footage: 205,600
The key individuals and companies involved in the transaction include the buyer, Ares Management, and the seller, 2253 Apparel Inc. Cody Lerner, representing the buyer, comes from Avison Young, while the seller was represented by Carol Taubman from Westgate Industrial Properties.
Players
Perris Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93