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100 Walnut Ave, Perris, CA,...

Ares Management Acquires Property From 2253 Apparel Inc For $59.3 Million With Brokers Cody Lerner And Carol Taubman
SOLDWarehouse

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:

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

Cody Lerner

Avison Young

Broker

$92.7M

vol

7 deals

Broker
Ares Management
Ares Management Buyer
Ares Management
Ares Management Lender

Perris Warehouse Market Snapshot

Boundary boundary · Warehouse · Sale transactions

Loading comparables…

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