Westcore has paid $20 million, or $170.44/sf, for the 117,342-square-foot industrial property at 201 Flynn Road in Camarillo, Calif. The San Diego investor purchased the property from Decker-Goetsch Properties of Westlake Village, Calif., which was represented by CBRE. The property, ...
The portfolio includes an 81,200-sf building at 1250, 1260 and 1270 Avenida Acaso, a 31,400-sf property at 1199 and 1221 Avenida Acaso and a 37,200-sf structure at 4098 Calle Tesoro.
The buyer funded its purchase with a $65 million Freddie Mac loan that has a seven-year term and pays a rate pegged to Libor plus 248 basis points.
74 percent leased.
Property consists of several two-story buildings that contain 52 one-bedroom/one-bath units that average 706 square feet, and 54 two-bedroom/two-bath units that average 872 sf.