California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Bay Area  + Apartments  | 
East Bay MultiFam Portfolio Purchased for $69M

East Bay MultiFam Portfolio Purchased for $69M

Levin Johnston of Marcus & Millichap has directed the $69 million acquisition of a 13-property multifamily portfolio in Oakland and Berkeley, CA. The acquisition was part of a 1031 exchange for two other Bay Area properties. Levin Johnston’s Adam Levin and Robert Johnston represented the buyer in the transaction.

During the pandemic, many Bay Area employers have relocated to the less-expensive Oakland area while office building development in the East Bay is also on the upswing, which is increasing renter demand.

“Strategically located, multifamily assets with strong value-add potential can be a rare find in this highly competitive, sought-after market,” said Levin in a news release. “By guiding our client through the complexities of this exchange, we were able to successfully facilitate the trade-up from their two existing multifamily properties into a diverse, 13-property portfolio that will deliver deep value for years to come.”

Connect

Inside The Story

Levin Johnston

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
New call-to-action
Colliers-58-cube
Chase-08-cube
Chase-12-cube