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
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.
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