400 Logue Owner LLC Acquires Miramar Capital's East Whisman Multifamily Property For $53M
SOLD
$53,000,000
California
See Similar DealsMultiFamily42,200 SF
Sold 02/02/2022
SOLD
400 Logue Owner LLC Acquires Miramar Capital's East Whisman Multifamily Property For $53M
400 Logue Avenue, Mountain View, California 94043, United States
See Similar DealsMultiFamily42,200 SF
Sold 02/02/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,255
Total Square Footage:42,200 SF
Transaction Type:Sale
The multifamily property located at 400 Logue Avenue in East Whisman has been sold for $53,000,000. The transaction took place on February 2, 2022. The property spans across an area of 2.5 acres and consists of 408 units, resulting in a price per unit of $129,901. The buyer is 400 Logue Owner LLC, while the seller is Miramar Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Address: 400 Logue Avenue
- Market: East Whisman
- ACRES: 2.5
The transaction was facilitated by Paul Fuhrman & Jae Yi, representing the buyer, 400 Logue Owner LLC, and Miramar Capital, representing the seller. The sale of this multifamily property marks a significant deal in the East Whisman market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$188,297.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$251,247.04
Annual Debt Service$3,014,964.47
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