Updated Dec 4, 2024
Anton Qiu's Anchor Pacific Capital Acquires Retail Property In San Francisco For $25.76M
350 Bay Street & 2351 Powell Street
$25,760,000
$148/SF
Building Size
87,000 SF
Asset Type
Retail
Closing
Dec 22, 2023
About this deal
AI
San Francisco's NorthPoint Shopping Centre and NorthPoint Vistas apartments have been acquired by Anchor Pacific Capital in partnership with an undisclosed family office. The transaction, which took place on December 22, closed at a price of $25.76 million. The retail property spans 87,000 square feet and is located at 350 Bay Street. It is aimed at attracting a new supermarket and activating the space for the neighborhood and Fisherman’s Wharf.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $25,760,000
- Address: 350 Bay Street & 2351 Powell Street, San Francisco
- Market: San Francisco
Anton Qiu of Anchor Pacific Capital led the acquisition of the NorthPoint properties. Alicia Mueller, Cooper Engst, Jeffrey Weber, and Quynh Le of Eastdil Secured served as the brokers for the deal.
On the Map
$25,760,000
$148/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93