Updated Jul 7, 2025
Timothy Bumb Acquires Bay 101 Casino In San Jose For $71.7M Financed By Western Alliance Bank
1788 North 1st Street
$71,700,000
Building Size
—
Asset Type
Commercial
Closing
Jul 7, 2025
About this deal
AI
A commercial asset located at 1788 North 1st Street in San Jose was sold for a total of $71,700,000. The transaction involved Timothy Bumb acquiring the Bay 101 Casino property, which was financed with a loan from Western Alliance Bank. The deal significantly increased the property's assessed value from January 2024, while the casino's operations remain unchanged.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $71,700,000
- Buyer: Timothy Bumb
- Company: Sutter’s Place Inc
- Lender: Western Alliance Bank
This transaction resolved internal disputes by allowing Timothy Bumb to buy out family members, including Brian Bumb, thereby solidifying his control over the property.
On the Map
$71,700,000
Commercial
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Players
San Jose Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93