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Rubicon Point Partners Acquires San Francisco Office Building For $72M

Property Image
SOLD
$72,000,000
Jonathan Schaefler
Edmund Najera
+ 1

California

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Office137,624 SF
Sold 10/25/2023
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Property Image
SOLD

Rubicon Point Partners Acquires San Francisco Office Building For $72M

123 Townsend Street

See Similar Deals
Office137,624 SF
Sold 10/25/2023
Jonathan Schaefler
Edmund Najera
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$523
Total Square Footage:137,624 SF
Transaction Type:Sale

An office property located at 123 Townsend Street in San Francisco has been sold for $72,000,000. The property spans a total area of 137,624 square feet, resulting in a price per square foot of $523. The transaction involved Rubicon Point Partners as the buyer and CBRE Investment Management as the seller.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $72,000,000
  • Address: 123 Townsend Street, San Francisco
  • Market: San Francisco
  • Square Footage: 137,624
  • Price Per Square Foot: $523
  • Buyer: Rubicon Point Partners
  • Seller: CBRE Investment Management

The transaction was facilitated by the brokers Steven Golubchik, Edmund Najera, Jonathan Schaefler, and Darren Hollak from Newmark. They played a key role in connecting the buyer and seller and ensuring the successful completion of the deal.

Players

Darren Hollak
15 deals$1.3B volume
BROKER

Edmund Najera
Newmark
12 deals$1.3B volume(408) 987-4193
BROKER

Jonathan Schaefler
Newmark
8 deals$497.3M volume(415) 705-9397
BROKER

Steven Golubchik
Newmark
19 deals$2B volume
BROKER

BUYER

CBRE
SELLER

Details

SOLD
IMAGE: Steven Golubchik, Edmund Najera, Jonathan Schaefler & Darren Hollak DATE: 10/25/2023 ADDRESS: 123 Townsend Street MARKET: San Francisco ASSET TYPE: Office BUYER: Rubicon Point Partners SELLER: CBRE Investment Management BROKERS: Steven Golubchik , Edmund Najera, Jonathan Schaefler (@Schaefler_Travels) & Darren Hollak (@DarrenHollak) - Newmark (@Newmark) SALE PRICE: $72,000,000 SF: 137,624 ~ PPSF: $523

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,840,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$255,800.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$341,316.73
Annual Debt Service$4,095,800.79