California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Decron Acquires Emeryville MF for $87M
Los Angeles-based Decron Properties Corp. acquired Bridgecourt, a 220-unit multifamily apartment complex in Emeryville, CA from a joint venture between Bascom Group and Carlyle Group for $87.4 million. The purchase boosts Decron Properties’ Bay Area portfolio to 650 units, which accounts for 10% of its portfolio.
Decron’s David Nagel says, “We were attracted to this investment because of the diversity and runway of the demand drivers that exist there [in Emeryville].”
Built in 1998, the four-building complex is located at 1325 40th St. and offers a mix of one-and two-bedroom units. Common area amenities include a pool, spa, sauna, outdoor BBQ with seating area, and a dog park. Decron plans to complete an interior renovation program started by the seller, as well as additional upgrades to the common areas. The property also includes roughly 8,889 square feet of 100%-leased ground floor retail.
Moran & Company represented both parties in the transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




