Updated Dec 4, 2024
STG Capital Partners Acquires Development Site In Paso Robles For $16.9M
3138 Linne Road
$16,957,000
Building Size
—
Asset Type
Development Site
Closing
Sep 28, 2023
About this deal
AI
STG Capital Partners has acquired a 17-acre development site located at 3138 Linne Road in Paso Robles. The property, part of the Vinedo master planned community, was purchased for a total of $16,957,000. The buyer plans to develop 214 build-for-rent homes along with a clubhouse and pool.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $16,957,000
- Address: 3138 Linne Road
- Market: Paso Robles
The seller, Danny Brose, was represented by Sal Provenza, Curt Crandall, and Les Whittlesey from WD Land. Their expertise and negotiation skills facilitated the successful closing of the deal. This transaction marks another significant step in the development of the Vinedo community, adding valuable residential options to the market in Paso Robles.
On the Map
$16,957,000
Development Site
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Players
Paso Robles Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93