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Todd Darling & Amanda Lindberg Of Acacia Capital Acquire Redwood City Multifamily For $188M

Property Image
SOLD
$188,000,000

California

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MultiFamily256,904 SF
Sold 10/16/2024
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Property Image
SOLD

Todd Darling & Amanda Lindberg Of Acacia Capital Acquire Redwood City Multifamily For $188M

299 Franklin Street

See Similar Deals
MultiFamily256,904 SF
Sold 10/16/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$731
Total Square Footage:256,904 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 299 Franklin Street in Redwood City. This multifamily asset comprises 304 units with a total square footage of 256,904. The transaction was completed at a sale price of $188,000,000, resulting in a price per unit of $618,421 and a price per square foot of $731.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $188,000,000
  • Units: 304
  • Square Footage: 256,904
  • Price Per Unit: $618,421
  • Price Per Square Foot: $731
  • Buyer: Todd Darling & Amanda Lindberg - Acacia Capital
  • Seller: Sean Gulian - Nuveen
  • Broker: Salvatore Saglimbeni - Marcus & Millichap

This transaction highlights the participation of key individuals such as Todd Darling and Amanda Lindberg representing Acacia Capital as the buyers. The seller, Sean Gulian, represented Nuveen in the deal, with Salvatore Saglimbeni acting as the broker through Marcus & Millichap.

Players

Salvatore Saglimbeni
10 deals$1.3B volume
BROKER

Details

SOLD
IMAGE: Sean Gulian & Salvatore Saglimbeni DATE: 10/16/2024 ADDRESS: 299 Franklin Street MARKET: Redwood City ASSET TYPE: Multifamily BUYER: Todd Darling & Amanda Lindberg - Acacia Capital SELLER: Sean Gulian - Nuveen (@Nuveeninv) BROKER: Salvatore Saglimbeni - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $188,000,000 UNITS: 304 ~ PPU: $618,421 SF: 256,904 ~ PPSF: $731

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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