Updated Mar 18, 2026
Jeffrey Hack Of Van Daele Homes Purchases 3.6-Acre Development Site In San Ramon For $11.1M
2 Annabel Lane
$11,100,000
Units
456
Asset Type
Development Site
Closing
Mar 12, 2026
About this deal
AI
A development site at 2 Annabel Lane in San Ramon, encompassing 3.6 acres, was sold for $11.1 million. The property is situated in the Bishop Ranch market and will be reconfigured into 64 townhome condominiums as part of a larger housing initiative.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,100,000
- Buyer: Jeffrey Hack - Van Daele Homes
- Seller: Alex Mehran Jr. - Sunset Development
- Lender: Comerica Bank
Jeffrey Hack, representing Van Daele Homes, has undertaken the purchase with plans to redevelop the property, aligning with Sunset Development's vision for expanding residential units in Bishop Ranch. This aligns with larger development efforts that include new projects from AvalonBay and Eden Housing.
On the Map
$11,100,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.43%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93