Updated Dec 4, 2024
Prado Group Acquires Multifamily Portfolio In San Francisco For $124M
$124,000,000
Units
124,000,000
Asset Type
MultiFamily
Closing
Nov 28, 2023
About this deal
AI
The Prado Group, led by Dan Safier and Craig Greenwood, has acquired a multifamily portfolio in San Francisco from Veritas Investments, represented by Yat-Pang Au, for a total of $124,000,000. The portfolio consists of 20 multifamily buildings and a vacant lot.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $124,000,000
- Units: 316
- Price Per Unit (PPU): $392,405
This acquisition is part of Veritas Investments' broader divestment strategy and follows the purchase of associated debt. It is worth noting that Veritas Investments has also sold a larger multifamily portfolio to Ballast Investments and Brookfield for $800 million.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse California multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93