Updated Oct 28, 2024
BioMed Realty Acquires Office Properties In Belmont & Redwood City For $160M
301-401 Island Parkway, Belmont, CA, USA
$160,000,000
$800/SF
Building Size
200,000 SF
Asset Type
Office
Closing
Oct 27, 2021
About this deal
AI
The property involved in this closed transaction is an office asset located at 301-401 Island Parkway & 501 Island Parkway in Belmont & Redwood City. It was sold on 10/27/2021.
Summary of transaction details
- Property Type: Office
- Sale Price: $160,000,000
- Square Footage: 200,000
- Price Per Square Foot: $800
- Buyer: BioMed Realty - Tim Schoen
Tim Schoen, representing BioMed Realty, was the buyer in this transaction.
The office sale at 301-401 Island Parkway, Belmont, CA, USA in Belmont, California sold for $160M in 2021. The building is 200,000 square feet, implying about 800 per square foot on the published price. Named participants on the 301-401 Island Parkway, Belmont, CA, USA sale are Tim Schoen. This page is the Belmont, California file for the 301-401 Island Parkway, Belmont, CA, USA office sold: pricing, party profiles, and other closed office comps from the same Belmont sit in the Market section below. Filter that Belmont office set by closing date to see what else sold near 301-401 Island Parkway, Belmont, CA, USA around 2021. Published consideration for 301-401 Island Parkway, Belmont, CA, USA is $160M, dated 2021. Cite this BioMed Realty Acquires Office Properties In Belmont & Redwood City For $160M sale when underwriting similar office product around Belmont, California.
Players
Belmont 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93