Intuitive Surgical Acquires Santa Clara And Sunnyvale Office Properties For $157.2M
3655 Kifer Road, 950 Kifer Road & 2999 San Ysidro Way
$157,200,000
Building Size
—
Asset Type
Office
Closing
Dec 26, 2023
AI
Intuitive Surgical, led by Gary S. Guthart, has acquired three office properties in Santa Clara and Sunnyvale, solidifying its presence in these markets. The properties include 3655 Kifer Road, 950 Kifer Road, and 2999 San Ysidro Way, and were purchased for a total of $157.2 million.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $157,200,000
- Address: 3655 Kifer Road, 950 Kifer Road & 2999 San Ysidro Way
- Market: Santa Clara & Sunnyvale
This strategic acquisition allows Intuitive Surgical to further expand its business operations in the Santa Clara and Sunnyvale office markets, demonstrating their dedication to growth and development in the area.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93