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Hilco Real Estate Arranges $168 Million Sale Of 99 Cents Only Stores Portfolio In Arizona And California
SOLD
$168,000,000
National
See Similar DealsRetail
Sold 12/09/2024
SOLD
Hilco Real Estate Arranges $168 Million Sale Of 99 Cents Only Stores Portfolio In Arizona And California
Retail
Sold 12/09/2024
Summary
Asset Type:Retail
Transaction Type:Sale
The transaction involved the sale of 99 Cents Only Stores' real estate portfolio, which features a total of 44 properties and 333 leases across the markets of Arizona, California, Nevada, and Texas. The sale was conducted at a price of $168,000,000 as part of the retailer's Chapter 11 bankruptcy proceedings.
Summary of transaction details:
- Property Type: Retail - 99 Cents Portfolio
- Transaction Amount: $168,000,000
- Number of Properties: 44
- Number of Leases: 333
- Development Parcels: 3
- Market: Arizona & California, Nevada & Texas
Joel Schneider of Hilco Real Estate acted as the broker for the transaction, while Hilco Consumer — Retail oversaw the liquidation sales. This process helped recover $240 million to prepare the assets for their subsequent sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,959,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$596,868.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$796,405.71
Annual Debt Service$9,556,868.52
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