Livermore Portfolio Deal Finalized with Sale of Briarwood Apartments

Marcus & Millichap arranged the sale and financing of Briarwood Apartments, a 64-unit multifamily property at 3819 East Ave. in Livermore. The property sold for $19.75 million. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $13.3 million in acquisition financing. The transaction was part of a three-property Livermore portfolio that also included Alderwood Park Apartments and Royal Gardens Apartments, which closed in December 2025.

“Livermore remains one of the most tightly held multifamily markets in the Bay Area, and opportunities to acquire scale there are exceptionally rare,” said Adam Richardson, senior director investments. “Briarwood Apartments was one of three Livermore communities we represented in this portfolio sale, and the buyer’s acquisition of all three properties reflects a long-term commitment to the market. Given the limited inventory and strong buyer interest we continue to see, we expect Livermore to remain one of the East Bay’s most sought-after multifamily investment markets.”

Richardson, Robert Johnston and Adam Levin, investment directors in Marcus & Millichap’s Palo Alto office, marketed the property on behalf of the seller, Virtu Investments, and procured the buyer. Chad O’Connor, executive managing director, capital markets, based in the firm’s San Diego office, secured a 30-year, non-recourse loan with a national bank at 70% loan-to-value.