| Hines and MetLife Investment Management Start Work on Res Project in Concord
Hines and MetLife Investment Management have begun construction of The Grant, a 228-unit mixed-use complex in the Bay Area city of Concord. The upscale project, spanning two adjacent blocks in the city’s downtown, is convenie...
| Westcore Spends $9.2 Mil on San Jose Warehouse Property
Westcore acquired a 40k sf industrial warehouse in San Jose for $9.2 mil ($230/sf). The property is located at 660 North King Rd, adjacent to a similar 87k sf industrial warehouse Westcore acquired earlier this year at 1800 D...
| NoCal Investor Pays Nearly $1,200/sf for Bay Area Retail Center
Shops at El Camino Real, an 8k sf retail center in the Bay Area city of Belmont, sold for $9.55 mil ($1,194/sf).The property is fully occupied by six tenants including Peet’s Coffee & Tea, Detox Kitchen & Juice Bar, Menchie’s...
| Prometheus Real Estate Acquires Silicon Valley Res Asset
Prometheus Real Estate has closed on a sizable Silicon Valley multifamily acquisition, paying about $70 mil for Gardens of Fontainbleu, a 125-unit ($560k/unit) complex in Cupertino. The property is located at located at 10200...
| Forge Development Partners to Transform Underutilized San Francisco Property into Workforce Housing
Forge Development Partners (Forge) has formed a venture with Fifth Church of Christ, Scientist to transform the underutilized Church property at 450 O’Farrell St in San Francisco into a 310-unit, high-tech rental home communi...
| Local Investor Spends $26.8 Mil on Bay Area Multifamily Asset
The Lakes, a 102-unit value-add multifamily community in the Bay Area city of Concord, was acquired by an Atherton-based family investment group in a $26.8 mil transaction, which works out to around $263k/unit.
| Decron Properties Buys 188-Unit Bay Area Res Property for $71.5 Mil
Decron Properties has acquired Rancho Luna Sol, a 188-unit multifamily community in Fremont, CA for $71.5 mil, or $380.3k/unit. With its acquisition of Rancho Luna Sol, Decron increased its regional portfolio to 1,054 units o...
| Westcore Closes $40 Mil Oakland Buy
Westcore acquired a 155k sf, Class A industrial warehouse in Oakland for $40.5 mil ($261/sf). The property is located at 8380 Pardee Dr, between Doolittle Dr and I-880.
Constructed in 2012, the distribution facility is full...
| DivcoWest Refis San Francisco Office Building with $36 Mil Loan
DivcoWest has obtained a $36 mil refi loan on 180 Townsend, a four-story, 40.9k sf office building in San Francisco. The asset is currently undergoing renovations to accentuate existing features such as the brick facades, win...
| Monterey County Farm Property Trades for $3 Mil
Rowe Ranch, an approximately 50-acre farm property located in the Pajaro Valley farming region of Monterey County, in California’s Central Coast, was acquired by The Lukrich Trust for $3 mil. The buyer is a local family whic...
| Riaz Capital Signs Four at Artthaus Studios in Oakland
There have been four new lease signings at Artthaus Studios, a recently expanded 120k sf catalyst for Bay Area start-ups and small businesses in creative industries. The property, which was designed to help start-up and small...
| South San Francisco Development Site Sold
IQHQ has purchased nearly two acres located at 580 Dubuque Ave – currently known as South City Station – in South San Francisco.The property, south of Oyster Point Blvd and adjacent to the 101 Fwy, was sold by Republic Metrop...
| Bay Area Res Community Lands $35 Mil Refi
Here’s news of a Bay Area multifamily financing deal. Valley Plaza Village Apartments, a 144-unit, garden-style apartment property in Pleasanton, was just refinanced with a new loan for $35 mil. The borrower is an affiliate o...
| Tokyu Land US Closes Three Multifamily Buys Totaling Over $200 Mil in the First Quarter of 2020
By: Allen Wolfsheimer
Tokyu Land US Corporation (TLUS) closed on three West Coast multifamily acquisitions in the first quarter of 2020 in transactions that totaled $214 mil. The purchases included: a 221-unit property in Pl...
| NYC Entity Spends $41 Mil on Silicon Valley R&D Facility
A fully leased, 102.7k sf R&D facility in Silicon Valley was acquired for $41.1 mil by Empire Square Group, a private real estate investment firm based in New York City. The property was sold by a joint venture between certai...
| Bay Area Multifamily Property Sells for Over $400k/Unit
In a recent Bay Area multifamily sale, a 30-unit property in Fremont traded hands for $12.2 mil, or $406.7k/unit. The property sits on 0.68 acres at 4001 Nicolet Ave, in close proximity to Fremont’s bustling Central District ...
| First Industrial Purchases 39k sf Industrial Building in the Bay Area
A 38.7k sf, light industrial warehouse and manufacturing building in Fremont sold for $9.125 mil ($236/sf). The property, located at 4160-4170 Business Center Dr, was acquired by First Industrial.
4160-4170 Business Center D...
| San Francisco Res Building with All Studios Fetches $464k/Unit
A “marina style,” 15-unit apartment building consisting of all studios in the heart of San Francisco’s Noe Valley District sold for $6.965 mil ($464.3k/unit). The property is located at 99 Jersey St, just west of Dolores St.
| Bay Area Multifamily Rent Growth Tapering Off
This report was provided by Kidder Mathews
Due to the Coronavirus pandemic, six of the Bay Area’s nine counties cautiously put Shelter in Place orders into effect in early March 2020, effectively putting a halt to all non-es...
| Oakland Multifamily Portfolio Financed with $58 Mil Loan
Mosser Capital has obtained $58.5 mil in financing to fund the recapitalization of a nine-property multi-housing portfolio located in Oakland. Mosser owns the assets in a venture with a new foreign investment partner. Mosser ...