Glenn Gilmore And Jesse Feldman Acquire Public Policy Institute Headquarters For $32.7M In San Francisco
500 Washington Street
$32,700,000
$283/SF
Building Size
115,568 SF
Asset Type
Office
Closing
Dec 11, 2024
AI
The asset involved in this transaction is an office property located at 500 Washington Street in San Francisco. The property encompasses 115,568 square feet and was sold for a total price of $32,700,000, equating to a price per square foot of $283.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $32,700,000
- Address: 500 Washington Street
- Market: San Francisco
- Buyer: Glenn Gilmore & Jesse Feldman - Brick & Timber Collective
- Seller: Public Policy Institute of California
- Broker: Robert Gilley - Colliers
- Square Footage: 115,568
- Price Per Square Foot: $283
Glenn Gilmore and Jesse Feldman, representing Brick & Timber Collective, have acquired the headquarters of the Public Policy Institute of California, demonstrating the firm's strategy to invest significantly in office properties within San Francisco amid favorable market conditions. Robert Gilley from Colliers facilitated the transaction.
Players
San Francisco 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93