Updated Oct 29, 2024
Gemini Rosemont Acquires Burlingame Office Building For $59.4M
1828 El Camino Real, Burlingame, California 94010, United States
$59,350,000
$913,076/SF
Building Size
65 SF
Asset Type
Office
Closing
Apr 17, 2023
About this deal
AI
Summary of transation details
- Property Type: Office
- Transaction Amount: $59,350,000
- Address: 1828 El Camino Real, Burlingame
- Market: Burlingame
The office property located at 1828 El Camino Real in Burlingame has been sold for a transaction amount of $59,350,000. The property spans across 65,804 square feet and is valued at $902 per square foot.
The buyer of the property is Gemini Rosemont Commercial Real Estate, represented by Jason Kuester, Tenzin Tsungmey, and Kevin Flemming. On the other hand, the seller is Sansome Street Advisors and Gordon Brothers. The seller was represented by Seth Siegel, Steve Hermann, and Ryan Venezia from Cushman and Wakefield.
On the Map
$59,350,000
$913,076/SF
Office
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Players
Burlingame 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93