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Concord Portfolio Sells for Affordable Housing Conversion
CBRE arranged a sale of two multifamily communities in Concord, Sunset Pines and Coral Court Apartments, for $37.25 million. Nonprofit Eden Housing purchased the market-rate, 116-unit portfolio and will convert it to affordable housing.
Keith Manson, Zachary Greenwood and Mac Watson of CBRE’s East Bay multifamily team represented the undisclosed seller in a Naturally Occurring Affordable Housing (NOAH) transaction.
“Concord is well-positioned to have strong rent growth,” said Manson. “This transaction was one of the top sales per unit among Concord apartment buildings over 20 units that were built before 2000. Given the limited amount of housing in the Bay Area, this transaction is critical to providing affordable rents for decades to come.”
- ◦Sale/Acquisition




