East Bay office building bought at price below its prior value

"An office building in Pleasanton was bought in a deal that cut the property's value nearly in half, records show. Real estate firms Cannae Partners and Realm teamed up to pay $8.5 million to buy the building at 4696 and 4698 Willow Rd., documents filed on Sept. 30 with the Alameda County Recorder's Office show. Deerfield Realty was the seller and provided the buying group with $4.25 million in financing at the time of the purchase, county records show."

"The building in Hacienda Business Park totals 43,200 square feet, according to commercial real estate database Property Shark. The deal, along with other transactions in the region, follows a pattern of office property purchases made at a discounted price. In 2022, the building was sold for $11.5 million, Property Shark reported. As of January, it had a value of $15.7 million, according to an estimate calculated by the Alameda County Assessor's Office."

An office building at 4696 and 4698 Willow Rd. in Pleasanton sold for $8.5 million to Cannae Partners and Realm. Deerfield Realty sold the property and provided $4.25 million in financing to the buying group at the time of purchase. The building totals 43,200 square feet and is located in Hacienda Business Park. Sale-related documents were filed Sept. 30 with the Alameda County Recorder's Office. The transaction reduced the property's value nearly by half compared with prior figures. The building sold for $11.5 million in 2022 and had an assessed estimate of $15.7 million in January. The sale reflects a regional pattern of discounted office-property purchases.

Read at www.mercurynews.com