Ridge Capital Investors Acquires Multifamily Property In San Leandro & Hayward For $189.5M
SOLD
$189,500,000
California
See Similar DealsMultiFamily
Sold 02/03/2022
SOLD
Ridge Capital Investors Acquires Multifamily Property In San Leandro & Hayward For $189.5M
888 Davis Street, San Leandro, California 94577, United States
See Similar DealsMultiFamily
Sold 02/03/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
Located at 888 Davis Street & 50 Austin Avenue in San Leandro & Hayward, this sale transaction involves a multifamily property. The property consists of 444 units and was sold for a price of $189,500,000, resulting in a per-unit price of $426,801.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $189,500,000
- Address: 888 Davis Street & 50 Austin Avenue, San Leandro & Hayward
- Market: San Leandro & Hayward
- Buyer: Ridge Capital Investors LLC - Trevor Wilson, Contrarian Capital Management & Andell Holdings
- Units: 444
- Price per Unit: $426,801
The buyer in this transaction is Ridge Capital Investors LLC, represented by Trevor Wilson, Contrarian Capital Management, and Andell Holdings.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$673,253.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$898,326.68
Annual Debt Service$10,779,920.14
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