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Blackstone Acquires Mixed-Use Property On Coleman Ave For $275M

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SOLD
$275,000,000

California

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Mixed-use10,019 SF
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Property Image
SOLD

Blackstone Acquires Mixed-Use Property On Coleman Ave For $275M

1125 Coleman Ave, San Jose, CA 95110, USA

See Similar Deals
Mixed-use10,019 SF
Sold
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Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$27447
Total Square Footage:10019 SF
Transaction Type:Sale

The mixed-use property located at 1125 Coleman Ave in the Coleman Highline market has been sold for a price of $275,000,000. The property, which includes various types of buildings and spaces, offers a diverse range of uses.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $275,000,000
  • Address: 1125 Coleman Ave
  • Market: Coleman Highline

The buyer of the property was Blackstone, a prominent investment firm. The transaction was facilitated by brokers Mike Charters, Jeff Houston, and Mike Benevento from CBRE. Their expertise and negotiation skills played a crucial role in the successful completion of the deal.

Players

Jeff Houston
1 deal$275M volume(408) 453-7497
BROKER

Mike Charters
CBRE
1 deal$275M volume(408) 453-7498
BROKER

Mike Benevento
CBRE
1 deal$275M volume
BROKER

Blackstone
BUYER

Details

SOLD
IMAGE: IMAGE: Kathleen Mccarthy, Jeff Houston, Jonathan Gray, Mike Charters, Ken Caplan DATE: 10/15/2020 ADDRESS: 1125 Coleman Ave MARKET: Coleman Highline ASSET TYPE: Mixed-use BUYER: @Blackstone BROKERS: Mike Charters, Jeff Houston & Mike Benevento @CBRE PRICE: $275,000,000

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Deal Type
Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$977,016.92
Cash-on-Cash Return-1.27%
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