This high-image multi-tenant office center was delivered to another high-value relationship client of the Carter/Harrigan Team from an “Off Market” status. The property was 97% leased at the time of sale with below market rents. The cap rate of 5.01% was based upon actual rents. Sale price for this asset was $19,050,000 with 40% down.
This Class-C Mobile Home Park was an “Off Market” asset located by the Carter/Harrigan team for one of our high-value relationship buyers. The La Buona Vida Park was a 109 unit park on approximately 14 acres of land. The park was 100% occupied at close of escrow. Close of escrow was on 9-30-2019 for $20,000,000.
3060-3080 N. 1st St, San Jose, CA 95134
This Class-A office campus was a two-building portfolio sold “Off Market” by Intero Commercial. Intero represented both buyer and seller to complete this transaction. The buyer was from an Intero client relationship using private equity. The combined purchase price for this office portfolio was $58,500,000.
1177 Airport Blvd, Burlingame, CA 94010
This “Value Add” hospitality asset was sold “OFF MARKET” by Intero Commercial to a high-value relationship client with private equity. The buyer’s intent was to secure an asset that could be used for a secure income stream and provide value add upside with partial redevelopment in the future. This asset now has a new flag with Crowne Plaza Hotels. Purchase price was $29,000,000.
This San Francisco mixed-use tower includes 35 stories of office and 7 stories residential. Intero represented the buyer in this transaction by combining an east coast pension fund manager and a local San Francisco based high-value relationship developer/manager to close this transaction. Sale price was $268,000,000.
This 180 units multi-family asset was assigned to Bill Harrigan at Intero Commercial for marketing and sale by Bank of the West (Trustee for Seller) as part of a bulk/portfolio liquidation. The total acquisition for all 691 units $74,600,000. Seller was another high-value relationship client. The buyer was a value-add client that specializes in “Affordable Rehabilitation Projects” that completed aggressive rehabilitation of the property in an amount equal to $16,000 per unit.
Intero represented another high-value relationship buyer to acquire this asset which was formally known as the “I. Magnin Building. This is a nine (9) story building on the corner of Stockton and Geary directly across from Union Square in San Francisco. The buyer is planning to redevelop this asset into a mixed-use property with office and residential components on top of three (3) stories of retail. Sale price was $250,000,000 in January of 2019.