Northwood Investors Acquires Office Building In Culver City For $120M
SOLD
$120,000,000
+ 4
New York
See Similar DealsOffice287,800 SF
Sold 08/04/2020
SOLD
Northwood Investors Acquires Office Building In Culver City For $120M
900 Corporate Pointe, Culver City, Ca 90230, Usa
See Similar DealsOffice287,800 SF
Sold 08/04/2020
+ 4
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$417
Total Square Footage:287,800 SF
Transaction Type:Sale
The office property located at 900 Corporate Pointe in Culver City has been sold for a total price of $120,000,000. The property spans over 287,800 square feet, resulting in a price per square foot of $416. The sale was completed on 08/04/2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $120,000,000
- Address: 900 Corporate Pointe
- Market: Culver City
- Square Footage: 287,800
- Price per Square Foot: $416
The buyer of the property was Northwood Investors, while the seller was Symantec Corporation (NortonLifeLock), represented by Natalie Derse. The transaction was facilitated by a team of brokers including Richard Ingwers and Bradford Rogers, Rob Rubano, Keith Padien, and Brian Share, as well as Marc Renard, Manfred Schaub, and Morgan Jackson from Cushman & Wakefield.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$426,334.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$568,861.22
Annual Debt Service$6,826,334.65
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