PulteGroup Acquires 5 Acre Development Site In Sunnyvale For $52M
SOLD
California
See Similar DealsDevelopment Site
Sold 08/25/2022
SOLD
PulteGroup Acquires 5 Acre Development Site In Sunnyvale For $52M
1139 Karlstad Drive, Sunnyvale, California 94089, United States
See Similar DealsDevelopment Site
Sold 08/25/2022
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale
1139 Karlstad Drive in Sunnyvale has been sold for $52,000,000. This 5-acre development site was purchased by PulteGroup, represented by Ryan Marshall, from the Sobrato Family Foundation, represented by John Albert Sobrato. The transaction took place on August 25, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $52,000,000
- Address: 1139 Karlstad Drive
- Market: Sunnyvale
- Buyer: PulteGroup - Ryan Marshall
- Seller: Sobrato Family Foundation - John Albert Sobrato
Ryan Marshall from PulteGroup and John Albert Sobrato from the Sobrato Family Foundation played key roles in this transaction. The sale of this 5-acre development site marks a significant move in the Sunnyvale real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35
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