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