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Jeffrey Mezger Of KB Home Purchases Office Building In San Ramon For $57.8 Million
SOLD
$57,800,000
California
See Similar DealsOffice276,000 SF
Sold 03/11/2025
SOLD
Jeffrey Mezger Of KB Home Purchases Office Building In San Ramon For $57.8 Million
2527 Camino Ramon
See Similar DealsOffice276,000 SF
Sold 03/11/2025
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$209
Total Square Footage:276,000 SF
Transaction Type:Sale
The property involved in this transaction is an office asset located at 2527 Camino Ramon in the San Ramon market. The building encompasses a total square footage of 276,000 and was sold for a price of $57,800,000, translating to a price per square foot of $209.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $57,800,000
- Square Footage: 276,000
- Address: 2527 Camino Ramon
- Market: San Ramon
- Buyer: Jeffrey Mezger
- Buyer's Company: KB Home
Jeffrey Mezger, representing KB Home, acquired the Bishop Ranch 7 office building in an all-cash deal. The company plans to replace the building with 190 homes as part of a strategy to transform the area into a mixed-use district that will include residential units, office spaces, retail, and entertainment options.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,082,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$205,351.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,001.49
Annual Debt Service$3,288,017.86
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