Updated Nov 28, 2024
CIM Group Sells Multifamily & Hotel Portfolio In Oakland For $282.9M
40 Harrison St, Oakland, CA 94607, USA
$282,850,000
Building Size
—
Asset Type
MultiFamily
Closing
May 4, 2023
About this deal
AI
The recently closed transaction in Oakland involved the sale of multiple properties, including a multifamily building and a hotel. The properties, located at 40, 55 Harrison Street, 466 Water Street, and 1150 Clay Street, were sold for a total price of $282,850,000. The sale was carried out by CIM Group, represented by Barry Berlin and David Thomas.
Summary of transaction details
- Property Type: Multifamily & Hotel
- Transaction Amount: $282,850,000
- Market: Oakland
Barry Berlin and David Thomas, representing CIM Group, were involved in the transaction as sellers. They facilitated the sale of the multifamily building and hotel, located at 40, 55 Harrison Street, 466 Water Street, and 1150 Clay Street, for a significant amount. The specific details regarding the size, condition, or any additional parties involved in the transaction were not provided in the available information.
On the Map
$282,850,000
MultiFamily
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Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93