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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.
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- ◦Sale/Acquisition




