Updated Oct 29, 2024
UC Board Of Regents Acquires Office Building Near UC Berkeley Campus For $13.2M
2105 Bancroft Way Berkeley, CA 94720, USA
$13,200,000
$388/SF
Building Size
34,000 SF
Asset Type
Office
Closing
May 30, 2023
About this deal
AI
The University of California has acquired a 34,000-square-foot office building near UC Berkeley's campus for $13.2 million. The property is located at 2105 Bancroft Way in Berkeley and is compliant with seismic requirements, making it an attractive choice for the university. Its proximity to UC Berkeley also played a role in the purchase decision.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,200,000
- Square Footage: 34,000
- Price per Square Foot: $388
- Address: 2105 Bancroft Way, Berkeley
- Market: Berkeley
In this transaction, the buyer is The UC Board of Regents, represented by Kyle Gibson from UC Berkeley. The seller is Harvest Properties. The brokers involved in the deal are Will Cliff and Aileen Dolby, who represent the buyer and seller respectively and are affiliated with Colliers.
On the Map
$13,200,000
$388/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93