Updated Oct 28, 2024
Gemdale USA Sells Berkeley Multifamily Property For $66M With Cushman & Wakefield's Reps
2033 Blake Street, Berkeley, California 94704, United States
$66,000,000
Units
84
Asset Type
MultiFamily
Closing
Dec 17, 2021
About this deal
AI
Located at 2033 Blake St. in Berkeley, this multifamily property was recently sold in a closed transaction. The property consists of 84 units and is situated in the Berkeley market. Gemdale USA, the seller, enlisted the services of Jason Parr, Scott MacDonald, John Hansen, Michael Bissada, and Sydney Ladrech from the Multifamily Advisory Group at Cushman & Wakefield to facilitate the sale.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,000,000
- Units: 84
- Price per Unit (PPU): $785,700
The sale of this multifamily property was completed on December 17, 2021. The transaction involved prominent individuals in the real estate industry, including Jason Parr, Scott MacDonald, John Hansen, Michael Bissada, and Sydney Ladrech from Cushman & Wakefield's Multifamily Advisory Group, who represented Gemdale USA. This transaction represents a significant deal in the Berkeley market.
Players
Berkeley MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93