GI Partners Acquires Office In Redwood City From Vertical Ventures For $30.1M
SOLD
$30,100,000
California
See Similar DealsOffice89,145 SF
Sold 05/04/2021
SOLD
GI Partners Acquires Office In Redwood City From Vertical Ventures For $30.1M
1201 Radio Road, Redwood City, CA, USA
See Similar DealsOffice89,145 SF
Sold 05/04/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$337
Total Square Footage:89,145 SF
Transaction Type:Sale
The office property located at 1201 & 1235 Radio Road in Redwood City has been sold for a price of $30,100,000. The property spans 89,145 square feet and is situated in the Redwood City market. It was sold on 05/04/2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,100,000
- Address: 1201 & 1235 Radio Road
- Market: Redwood City
The buyer of this property is GI Partners, represented by Roy Kelvin. The seller, Vertical Ventures, was represented by Hamid Rezapour. CBRE acted as the buyer's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,605,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,938.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,689.36
Annual Debt Service$1,712,272.28
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