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2880 Lakeside Drive

Paul Fuhrman & Jae Yi Of Miramar Capital Acquire Office At 2880 Lakeside Drive For $19M
SOLDOffice

Paul Fuhrman & Jae Yi Of Miramar Capital Acquire Office At 2880 Lakeside Drive For $19M

2880 Lakeside Drive

$19,000,000

$192/SF

Building Size

98,600 SF

Asset Type

Office

Closing

Jan 30, 2025

AI

The Atrium at Lakeside is an office property located at 2880 Lakeside Drive in Santa Clara. The recent transaction involved a sale price of $19,000,000 for a total square footage of 98,600, translating to a price per square foot of $193.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $19,000,000
  • Address: 2880 Lakeside Drive
  • Market: Santa Clara
  • Square Footage: 98,600
  • Price Per Square Foot: $193
  • Buyer: Paul Fuhrman & Jae Yi
  • Buyer's Company: Miramar Capital

Paul Fuhrman and Jae Yi, representing Miramar Capital, executed the acquisition of the property as part of a recapitalization deal aimed at enhancing their portfolio presence in the Santa Clara region.

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

0.83%

Cash-on-Cash

-0.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93