Updated Oct 28, 2024
MG Properties Acquires Multifamily Property In Milpitas For $193M
312 Gates Dr, Milpitas, California 95035, United States
$193,000,000
Units
333
Asset Type
MultiFamily
Closing
Jul 31, 2022
About this deal
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.
The multifamily sale at 312 Gates Dr, Milpitas, California 95035, United States in Milpitas, California sold for $193M in 2022. Reported inventory is 333 units across 333 units. Named participants on the 312 Gates Dr, Milpitas, California 95035, United States sale are Mark Gleiberman. This page is the Milpitas, California file for the 312 Gates Dr, Milpitas, California 95035, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Milpitas sit in the Market section below. Filter that Milpitas multifamily set by closing date to see what else sold near 312 Gates Dr, Milpitas, California 95035, United States around 2022. Published consideration for 312 Gates Dr, Milpitas, California 95035, United States is $193M, dated 2022. Cite this MG Properties Acquires Multifamily Property In Milpitas For $193M sale when underwriting similar multifamily product around Milpitas, California.
On the Map
$193,000,000
MultiFamily
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Milpitas 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