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Avery at TownCentre Offers Multiple Paths to Upside
Avery at TownCentre, a 137-unit two-story apartment community located in the Contra Costa County city of Brentwood, recently changed hands. Columbus-based Klingbeil Capital Management acquired the property from ConAm for $49.5 million.
Jason Parr, Scott MacDonald, John Hansen, Michael Bissada and Sydney Ladrech with Cushman & Wakefield represented the seller in the transaction.
“A premier asset in a leading and fast-growing San Francisco Bay Area suburb, Avery at TownCentre offered an investor the opportunity to acquire a multifamily community with multiple paths to immediate upside and below replacement cost,” said Parr. “Built in the early 1990s and renovated in the late 1990s, the property is one of the newest rental communities in Brentwood. Is it well located just two blocks from downtown, and a short drive to BART and proximate to many top employers.”
Avery at TownCentre comprises 13 buildings with a unit mix of 56 one-bedroom units, 68 two-bedroom units, 12 three-bedroom units and one studio unit. The property is located along Highway 4.
- ◦Sale/Acquisition
