HP Investors Acquires Office Building In Oakland, CA For $35.7M
SOLD
$35,700,000
California
See Similar DealsOffice207,773 SF
Sold 10/10/2022
SOLD
HP Investors Acquires Office Building In Oakland, CA For $35.7M
7700 Edgewater Drive, Oakland, California 94621, United States
See Similar DealsOffice207,773 SF
Sold 10/10/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$171
Total Square Footage:207,773 SF
Transaction Type:Sale
The office property located at 7700 Edgewater Drive in Oakland, CA has been sold. The transaction took place on 10/10/2022. The property, with a size of 207,773 square feet, was sold for a total price of $35,700,000, resulting in a price per square foot of $172. The buyer of the property is HP Investors, represented by Sumeet Parekh. The seller is California Capital & Investment Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $35,700,000
- Square Footage: 207,773
- Price Per Square Foot: $172
- Buyer: HP Investors - Sumeet Parekh
- Seller: California Capital & Investment Group
The deal involved HP Investors as the buyer, represented by Sumeet Parekh, and California Capital & Investment Group as the seller. This transaction marks the successful sale of the office property located at 7700 Edgewater Drive. The details of the sale include a total price of $35,700,000 and a price per square foot of $172 for the 207,773 square feet property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,903,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$126,834.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$169,236.21
Annual Debt Service$2,030,834.56
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