Frontline Realty Capital Purchases 1440 Broadway Office Tower In Oakland From BrightSpire Capital For $5.5M

The historic office tower located at 1440 Broadway in downtown Oakland has been sold for $5,500,000. The property encompasses 91,000 square feet, which was previously owned by BrightSpire Capital. The sale reflects a significant decrease from its 2018 value of $43.5 million, resulting in an 87% drop.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,500,000
• Address: 1440 Broadway
• Market: Oakland
• Square Footage: 91,000
• Price Per Square Foot: $60
• Buyer: Robb Mann & Christian Diggs - Frontline Realty Capital
• Seller: Michael J. Mazzei - BrightSpire Capital
• Lender: Archway Capital

This transaction marks Frontline Realty Capital's first acquisition in Oakland. Following the purchase, the company plans to reposition the building, supported by a $3 million loan from Archway Capital.