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California  + Bay Area  + Apartments  | 

12 Bay Area, Sacramento Multifamily Assets Close at $535M

In the fourth quarter of 2020, 12 assets totaling 1,552 units closed with a value of $535.165 million. The transactions were brokered by Stan Jones, Philip Saglimbeni, Salvatore Saglimbeni and Alex Tartaglia of Institutional Property Advisors’ (a division of Marcus & Millichap) Palo Alto, Calif.-based multifamily team.

These fourth quarter closings included eaves San Rafael, a 254-unit apartment asset in San Rafael that sold for $106 million and Mode Apartments, a 111-unit property in San Mateo that traded at $80.05 million. Two major secondary Bay Area market closings were Berkshire Laurel Creek, a 106-apartment asset in Fairfield that brought $27.3 million, and the $33.3 million sale of Creekside Park, a 141-unit property in Santa Rosa. Outside the Bay Area, the team brokered sales in Carmichael and Sacramento.

For comments, questions or concerns, please contact Lisa Brown

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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