Updated Oct 29, 2024
The Martin Group Acquires Mixed-use Property In Oakland For $47M With Buyer's Rep Justin Osler & Stephen Siri, Seller Anton Development
295 29th Street, Oakland, California 94611, United States
$47,000,000
Units
91
Asset Type
Mixed-use
Closing
May 1, 2023
About this deal
AI
The mixed-use property located at 295 29th Street in Oakland has been sold in a closed transaction. The sale took place on January 5, 2023. The property is composed of 91 units and was sold for a price of $47,000,000, resulting in an average price per unit of $516,484. The buyer of the property is The Martin Group, represented by Justin Osler and Stephen Siri from Stars REI, while the seller is Anton Development. The sale was facilitated by JLL.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $47,000,000
- Address: 295 29th Street, Oakland
- Market: Oakland
The deal involved The Martin Group as the buyer, represented by Justin Osler and Stephen Siri from Stars REI. Oscar Boettiger, also from Stars REI, represented The Martin Group in the transaction. The seller, Anton Development, successfully closed the deal with the assistance of JLL.
Players
Oakland Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93