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Cityview Acquires Multifamily in Bay Area’s Tri-Valley
Multifamily investment management and development firm Cityview has acquired Tralee Village Apartments in Dublin. Terms were not disclosed. Located at 6599 Dublin Blvd. in the Bay Area’s Tri-Valley, the three-story, 130-unit multifamily project is spread across two buildings and sits above more than 30,000 square feet of curated ground-floor retail.
“Tralee Village was a prime opportunity to acquire a well-located, high-quality asset in a highly sought-after submarket that has experienced significant population and employment growth since the pandemic,” said Sean Burton, CEO of Cityview. “With a 95% average historical occupancy and robust market fundamentals, Tralee Village fits squarely in our strategy of acquiring communities in supply constrained markets with high barriers to entry at significantly below replacement cost.”
Originally built in 2011, the community offers one-, two- and three-bedroom floorplans. Cityview plans a comprehensive renovation of the interiors and common areas.
Jason Parr at Berkadia brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.
- ◦Sale/Acquisition
