Gemini Rosemont Acquires Burlingame Office Building For $59.4M
SOLD
$59,350,000
California
See Similar DealsOffice65 SF
SOLD
Gemini Rosemont Acquires Burlingame Office Building For $59.4M
1828 El Camino Real, Burlingame, California 94010, United States
See Similar DealsOffice65 SF
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$913,076
Total Square Footage:65 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$210,858.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$281,349.28
Annual Debt Service$3,376,191.35
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