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California  + Bay Area  + Apartments  | 

Trio of Bay Area MF’s Trade Hands for $34M

Levin Johnston of Marcus and Millichap directed three Bay Area multifamily property sales for a total consideration of $34.32 million. The firm’s Adam Levin and Robert Johnston represented the unnamed seller as well as buyer.

Levin says, “In this transaction, we were able to procure a strong buyer who recognized the long-term investment opportunity, and that by purchasing the three properties, which are part of a six-property portfolio, they would benefit from economies of scale. As a result, we were able to secure an attractive sales price for our seller.”

The three properties in the portfolio included:
– 1234 Sunnyvale Saratoga Rd. in Sunnyvale, a 34-unit property that is situated on 1.28 acres, which sold for roughly $15.3 million (pictured).
– 100 Oak Rim Way in Los Gatos, a 24-unit property on 1.15 acres, which sold for roughly $11.52 million.
– 2905 Old Almaden Rd. in San Jose, a 25-unit property situated on 0.7 acres that sold for roughly $7.5 million.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition