Todd Darling & Amanda Lindberg Of Acacia Capital Acquire Redwood City Multifamily For $188M
299 Franklin Street
$188,000,000
$731/SF
Building Size
256,904 SF
Asset Type
MultiFamily
Closing
Oct 16, 2024
AI
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.
Redwood City 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93