SOLDOffice
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
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.
Players
Belmont Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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