Updated Dec 4, 2024
Michael Turner & Chad Remis Acquire Mixed-Use Property In Berkeley For $173M
5959 Shellmound Street, Berkeley, CA, USA
$173,000,000
$429/SF
Building Size
402,700 SF
Asset Type
Mixed-use
Closing
Apr 21, 2021
About this deal
AI
The mixed-use property located at 5959 Shellmound Street in Berkeley was recently sold. The transaction took place on 04/22/2021, with a sale price of $173,000,000. The property spans approximately 402,700 square feet, resulting in a price per square foot of $429.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $173,000,000
- Address: 5959 Shellmound Street, Berkeley
- Market: Berkeley
- Square Footage: 402,700
- Price per Square Foot: $429
Michael Turner & Chad Remis from Oxford Properties Group acted as the buyers in this deal.
Players
Emeryville 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93