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2/03/15
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A portfolio of trust properties in the Piedmont Avenue retail district of Oakland were sold in three transactions. Comprised of four separate properties on Piedmont Ave and Howe St, the portfolio contained a total of 36 multifamily units and six commercial units.
Marketed for the first time in 50 years, these highly coveted buildings sold individually for a combined total of $7.64 mil, or about $182k/unit. The cap rates ranged from 2.67% to 3.17%.
These properties were part of a family trust and were sold in a trustee sale. John C. Suttle of Suttle Law, P.C. acted as the seller’s trustee. Keith Manson and Zachary Greenwood of CBRE were the listing agents representing the seller on all transactions.
Cohen Rojas Capital Partners, the buyers of 4120 and 4132 Howe St, and a local private investor, the buyer of 4084 Piedmont Ave, were also repped by Manson and Greenwood. Santino DeRose of DeRose Appelbaum Inc, represented himself and his partners on the purchase of 4250 Piedmont Ave.
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