GI Partners Acquires Office Portfolio In South San Francisco & San Carlos For $388M
7000 Shoreline Court, South San Francisco, California 94080, United States
$388,000,000
$1,168/SF
Building Size
332,000 SF
Asset Type
Office
Closing
Sep 15, 2022
AI
The office property located at 7000 Shoreline Court, 381-383 Oyster Point Boulevard & 75-125 Shoreway Road in South San Francisco & San Carlos has been sold. The buyer, GI Partners represented by Tony Lin, purchased the property from Alexandria Real Estate Equities for a total of $388,000,000. The property spans a total area of 332,000 square feet, resulting in a price per square foot of $1,169.
Summary of transation details
- Property Type: Office
- Transaction Amount: $388,000,000
- Property Address: 7000 Shoreline Court, 381-383 Oyster Point Boulevard & 75-125 Shoreway Road
- Market: South San Francisco & San Carlos
- Buyer: GI Partners - Tony Lin
- Seller: Alexandria Real Estate Equities
- Square Footage: 332,000
- Price per Square Foot: $1,169
The sale of this office property was facilitated by GI Partners, represented by Tony Lin, as the buyer, and Alexandria Real Estate Equities as the seller. This transaction marks an important deal in the South San Francisco & San Carlos market, highlighting the interest and activity in the office real estate sector.
Players
South 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93