Updated Dec 4, 2024
Center Capital Partners Acquires Redwood City Office Building For $82.8M
1 Twin Dolphin Drive, Redwood City, California 94065, United States
$82,800,000
$573/SF
Building Size
144,400 SF
Asset Type
Office
Closing
Mar 1, 2022
About this deal
AI
The Redwood City office property located at 1, 3 Twin Dolphin Drive & 100 Marine Parkway has been sold. The sale was facilitated by Center Capital Partners - represented by Alex Valner, and the property was purchased from Rockpoint Group. The transaction took place on March 2, 2022.
Summary of transaction details:
- Property Type: Office
- Sale Price: $82,800,000
- Square Footage: 144,400
- Price per Square Foot: $573
- Market: Redwood City
- Buyer: Center Capital Partners - Alex Valner
- Seller: Rockpoint Group
Alex Valner, representing Center Capital Partners, played a key role in the acquisition of this office property. The transaction marks a significant investment by Center Capital Partners in the Redwood City market.
Players
Redwood City Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93