Updated Dec 4, 2024
Madison Capital Acquires 30-Acre School Campus In Fremont For $260M
47488 Kato Rd Fremont, CA 94538, USA
$260,000,000
$452/SF
Building Size
575,000 SF
Asset Type
Other
Closing
May 26, 2023
About this deal
AI
Hard-drive manufacturer Seagate Technology Holdings has sold its 575,000-square-foot school in Fremont, California to Madison Capital for a price of $260,000,000. The property, located at 47488 Kato Road, sits on approximately 30 acres of land. This transaction marks Seagate's decision to reduce its real estate footprint following layoffs and declining product demand.
Summary of transaction details
- Property Type: School
- Transaction Amount: $260,000,000
- Square Footage: 575,000
- Address: 47488 Kato Road
- Market: Fremont
- Asset: Approximately 30 acres
Madison Capital has emerged as the buyer in this deal, acquiring the school property from Seagate Technology Holdings. Seagate's representative in the transaction was William D. Mosley. The decision to sell the campus comes as Seagate aims to streamline its operations and optimize its real estate holdings.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93