MG Properties Acquires Multifamily Property In Milpitas For $193M
312 Gates Dr, Milpitas, California 95035, United States
$193,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 31, 2022
AI
The multifamily property located at 312 Gates Drive in Milpitas has been sold for a price of $193,000,000. This property consists of 333 units, resulting in a per unit price of $580,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $193,000,000
- Units: 333
- Price Per Unit: $580,000
The buyer of this property is MG Properties, represented by Mark Gleiberman. Mark Gleiberman serves as the buyer's representative in this deal.
Milpitas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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