Landmark Properties Acquires Mixed-Use Property In Downtown Berkeley For $27.7M
SOLD
$27,700,000
California
See Similar DealsMixed-use
SOLD
Landmark Properties Acquires Mixed-Use Property In Downtown Berkeley For $27.7M
2190 Shattuck Avenue, Berkeley, California 94704, United States
See Similar DealsMixed-use
Summary
CALIFORNIA
Asset Type:Mixed-use
Transaction Type:Sale
Located in Downtown Berkeley, the mixed-use property at 2190 Shattuck Avenue has been sold in a recent transaction. Wes Rogers, representing Landmark Properties, acted as the buyer in the deal, while the seller was PGIM Real Estate. The sale price for this property stood at $27,700,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $27,700,000
- Date: 12/23/2022
- Market: Downtown Berkeley
- Buyer: Landmark Properties - Wes Rogers
- Seller: PGIM Real Estate
- Address: 2190 Shattuck Avenue
- Image: Wes Rogers
Wes Rogers, representing Landmark Properties, played a crucial role as the buyer in this transaction. On the other hand, PGIM Real Estate acted as the seller. This deal signifies the successful transaction of the mixed-use property in Downtown Berkeley, adding to Landmark Properties' portfolio.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,477,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$98,412.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$131,312.13
Annual Debt Service$1,575,745.58
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