PIMCO And Lane Partners Acquire San Jose Office Building For $155M
488 South San Vicente Boulevard, Los Angeles, CA, USA
$155,000,000
$409/SF
Building Size
378,961 SF
Asset Type
Office
Closing
May 25, 2020
AI
The office property located at 488 S. Almaden Blvd. in San Jose has been sold in a recent transaction.
Summary of transaction details:
- Property Type: Office
- Sale Price: $155,000,000
- Square Footage: 378,961
- Price per Square Foot: $409
- Address: 488 S. Almaden Blvd., San Jose
- Market: San Jose
The buyer in this transaction is PIMCO represented by Emmanuel Roman and Lane Partners represented by Scott L. Smithers. The seller of the property is Oracle, with Larry Ellison as their representative.
Note: No additional information regarding the deal was provided.
Players
Los Angeles 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