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Roy Kelvin's GI Partners Acquires Santa Clara Office Complex For $41.5M

Property Image
SOLD
$41,500,000
Barry Howard
RK

California

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Office106,500 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Roy Kelvin's GI Partners Acquires Santa Clara Office Complex For $41.5M

2855 Bowers Avenue, Santa Clara, CA, USA

See Similar Deals
Office106,500 SF
Sold
Barry Howard
RK
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$389
Total Square Footage:106500 SF
Transaction Type:Sale

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.

Players

Barry Howard
Berkshire Hathaway HomeServices
Barry Howard
1 deal$41.5M volume
BROKER
RK
GI Partners
Roy Kelvin
2 deals$71.6M volume
BUYER

Details

SOLD
IMAGE: Roy Kelvin & Barry Howard DATE: 03/02/2021 ADDRESS: 2855 Bowers Ave, 2710 Walsh Ave MARKET: Santa Clara ASSET TYPE: Office BUYER: Roy Kelvin - GI Partners Brokers: Barry Howard - Berkshire Hathaway California Realty PRICE: $41,500,000 SF: 106,500 ~ PPSF: $389

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,213,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$147,440.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$196,731.17
Annual Debt Service$2,360,774.07