Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 12, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





NORTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Investors Trade 27-Unit Apartment Building in the East Bay

6/20/22

The Point apartments, a multifamily apartment building in Point Richmond, CA, was acquired by a private investor for $14.97 mil. The 28.5k sf property, located at 401-403 South Garrard Blvd, 13 miles northwest of downtown Oakland, consists of 27 residential units and one commercial space.

The property, just a 30-minute drive from San Francisco, includes 28 parking stalls, a rooftop terrace and outdoor grill areas. Built in 2017, all units have updated fixtures and modern amenities including open-concept living spaces, floor-to-ceiling windows, in-unit washer and dryer, central air and heating, fireplace, stainless steel appliances and hardwood floors.

Keith Manson, Zachary Greenwood and Mac Watson with CBRE represented the sellers, a joint venture between real estate developer Integrated Property Company II and TRIG Investment Group, who developed The Point apartments. The buyer, who executed a 1031-exchange, was repped by CBREs Jef Henderson, Jon Teel, Adam Foley and Katie Hayden. Andrew Behrens, Jesse Weber and Ryan Jameson of CBREs Debt & Structured Finance team secured a $3.55 mil loan with a 3.23% rate through CBREs Freddie Mac Multifamily Small Balance Loan (SBL) Program.

Nationally, multifamily investment volume outperformed industrial, retail and office with $57 bil in investment volume in the first quarter of 2022, up 42% from the same period last year according to CBRE. The San Francisco Bay Area was the fourth top market in total multifamily investment volume, growing 82.8% year-over-year.




Return to the previous page


 


 


 
 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media