Updated Oct 29, 2024
Spieker Companies Acquires Sunnyvale Multifamily For $106M From Seller Boskin
902 West Remington Drive, Sunnyvale, California 94087, United States
$106,000,000
Units
224
Asset Type
MultiFamily
Closing
Jan 23, 2023
About this deal
AI
The multifamily property located at 902-930 West Remington Drive & 902-930 Rockefeller Drive in Sunnyvale has been sold. The transaction took place on 01/23/2023 and was facilitated by Michael Boskin, who represented the seller, Koret. The property was purchased by Spieker Companies.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $106,000,000
- Units: 224
- Price per Unit (PPU): $473,214
The sale of this multifamily property represents a significant transaction in the Sunnyvale market. The property consists of 224 units, with each unit priced at approximately $473,214. The total transaction amount for the sale was $106,000,000.
Michael Boskin from Koret represented the seller in this deal, while Spieker Companies acted as the buyer.
Players
Sunnyvale 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93