Prometheus Acquires Multifamily Property In San Bruno For $188M
SOLD
$188,000,000
California
See Similar DealsMultiFamily
Sold 09/19/2022
SOLD
Prometheus Acquires Multifamily Property In San Bruno For $188M
2000 Crystal Springs Road, San Bruno, California 94066, United States
See Similar DealsMultiFamily
Sold 09/19/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2000 Crystal Springs Road in San Bruno, CA has been sold for $188,000,000. The transaction took place on 09/19/2022. The property consists of 435 units, with a price per unit (PPU) of $432,184. The buyer of the property is Prometheus Real Estate Group, represented by Jackie Safier. The seller is Pivnicka Properties & Gerson Bakar & Associates.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $188,000,000
- Units: 435
- Price per Unit (PPU): $432,184
- Buyer: Prometheus Real Estate Group - Jackie Safier
- Seller: Pivnicka Properties & Gerson Bakar & Associates
Jackie Safier of Prometheus Real Estate Group played a crucial role as the buyer's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$667,924.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$891,215.91
Annual Debt Service$10,694,590.96
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