Ares Management Acquires Property From 2253 Apparel Inc For $59.3 Million With Brokers Cody Lerner And Carol Taubman
SOLD
$59,300,000
California
See Similar DealsWarehouse205,600 SF
Sold 12/09/2022
SOLD
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
See Similar DealsWarehouse205,600 SF
Sold 12/09/2022
Summary
CALIFORNIA
Asset Type:Warehouse
Price Per Square Foot:$288
Total Square Footage:205,600 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,162,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$210,680.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$281,112.25
Annual Debt Service$3,373,347.04
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