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Christopher Merrill Of Harrison Street Acquires Ivy Park At Los Gatos For $54M From Chronograph Properties And Swenson Builders
SOLD
$54,000,000
California
See Similar DealsMultiFamily
Sold 11/08/2025
SOLD
Christopher Merrill Of Harrison Street Acquires Ivy Park At Los Gatos For $54M From Chronograph Properties And Swenson Builders
400 Blossom Hill Road
See Similar DealsMultiFamily
Sold 11/08/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in this transaction is a multifamily unit located at 400 Blossom Hill Road in Los Gatos. The newly opened Ivy Park at Los Gatos senior living community consists of 114 units, sold for a total price of $54,000,000, which reflects a price per unit of $473,684.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Units: 114
- Price Per Unit: $473,684
- Buyer: Christopher Merrill - Harrison Street
- Seller: Chronograph Properties & Swenson Builders
- Market: Los Gatos
The deal involves Christopher Merrill representing Harrison Street Real Estate in acquiring the property from Chronograph Properties and Swenson Builders. This transaction is part of a larger six-property portfolio deal valued at $200 million, which includes a total of 669 units across California in conjunction with Oakmont Senior Living and Blue Mountain Enterprises.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59
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