Harrison Street Acquires 107000 SF Property At 2825 Santa Monica Blvd For $156M
2825 Santa Monica BLVD, Santa Moni...
$156,000,000
$1,457/SF
Building Size
107,000 SF
Asset Type
Office
Closing
May 23, 2022
AI
The property at 2825 Santa Monica Blvd, Santa Monica, was sold for $156,000,000.00. It encompasses a total square footage of 107,000. This transaction reflects a strategic move within the real estate market, highlighting its significant asset value.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $156,000,000.00
- Address: 2825 Santa Monica Blvd, Santa Monica
- Square Footage: 107,000
- Buyer: Harrison Street
- Seller's Representative: Christopher (Chris) Bodnar, CBRE
The buyer, Harrison Street, plays a crucial role in this transaction, acquiring a notable property represented by Christopher (Chris) Bodnar from CBRE, who facilitated the sale process. Their involvement underscores the collaborative efforts inherent in high-value real estate transactions.
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93