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IPA Handles $89M Redwood City Transit-Oriented MF Deal
Institutional Property Advisors (IPA), a division of Marcus & Millichap, completed the sale of Township Apartments, a 132-unit apartment asset in Redwood City, CA. The sales price was $88.65 million, or $671,591-per-unit. Salvatore Saglimbeni, Stanford Jones, and Philip Saglimbeni represented the seller, Nuveen Real Estate.
IPA’s Salvatore Saglimbeni says, “Township Apartments is a transit-oriented, pedestrian-friendly luxury community located in Redwood City’s vibrant downtown neighborhood that provides residents with a live, work and play environment on the Bay Area Peninsula.”
Built in 2014 on 2.3 acres, the property has a resort-style setting and inviting communal gathering spaces. Unit interiors average 914 square feet and are equipped with luxury finishes including quartz countertops and stainless-steel appliances. The community has a 13% below-market rent affordable component.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




