Phase 3 Real Estate Partners Acquires Office In San Francisco For $168M
SOLD
$168,000,000
California
See Similar DealsOffice383,123 SF
Sold 05/19/2021
SOLD
Phase 3 Real Estate Partners Acquires Office In San Francisco For $168M
2001 Junipero Serra Boulevard, San Francisco, CA, USA
See Similar DealsOffice383,123 SF
Sold 05/19/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$438
Total Square Footage:383,123 SF
Transaction Type:Sale
2001 Junipero Serra Blvd, a 383,123 square foot office property located in San Francisco, was recently sold for $168,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $168,000,000
- Market: San Francisco
The buyer, Phase 3 Real Estate Partners represented by Michael Gerrity, acquired the property from the seller, Harvest Properties and Cerberus Capital Management, represented by Stephen A. Feinberg.
No additional information is available regarding this transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,959,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$596,868.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$796,405.71
Annual Debt Service$9,556,868.52
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