California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Sares Regis Completes Bay Area MF Deals, Including $74M Trade with Jay Paul
Sares Regis Group of Northern California completed a pair of Bay Area multifamily transactions. It acquired Mode, a luxury apartment community in San Mateo from Land and Houses for an undisclosed amount. The company also sold Encore in downtown Redwood City to an affiliate of Jay Paul Co. for $73.5 million.
The 111-unit Mode property (pictured) consists of two buildings at 2089 Pacific Blvd. Sares Regis received conditional approval for the conversion of eight existing two-bedroom units at Mode into 16 studios, increasing the total number of apartments to 119. Construction on the new studios is scheduled to begin Q1 2021.
Institutional Property Advisors’ (IPA) Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alexander Tartaglia represented the seller in the Mode deal. SRGNC was self-represented. CBRE’s Jesse Weber arranged debt financing for the deal.
Encore is a new luxury community that was built, leased, and managed by SRGNC and its affiliate companies. Located at 855 Veterans Blvd., the 90-residence, six-story building features nearly 5,000 square feet of amenity space, spacious floor plans, and premium interior finishes. The transaction was also brokered by IPA’s Jones, the Saglimbeni’s and Tartaglia.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition




