Updated Oct 29, 2024
Roy Kelvin's GI Partners Acquires Santa Clara Office Complex For $41.5M
2855 Bowers Avenue, Santa Clara, CA, USA
$41,500,000
$389/SF
Building Size
106,500 SF
Asset Type
Office
Closing
Mar 1, 2021
About this deal
AI
The office building located at 2855 Bowers Ave in Santa Clara has been sold in a transaction that closed on March 2, 2021. The property, along with 2710 Walsh Ave, was purchased for a total price of $41,500,000. The combined square footage of the two addresses is 106,500, resulting in a price per square foot of $389.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $41,500,000
- Address: 2855 Bowers Ave, 2710 Walsh Ave
- Market: Santa Clara
- Buyer: Roy Kelvin - GI Partners
- Broker: Barry Howard - Berkshire Hathaway California Realty
Roy Kelvin, representing GI Partners, was the buyer in the transaction. Barry Howard of Berkshire Hathaway California Realty served as the broker.
On the Map
$41,500,000
$389/SF
Office
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Players
Santa Clara 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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93