Walker & Dunlop Closes Burlingame Apartment Sale at 4.14% Cap Rate
Walker & Dunlop arranged the sale of The Arlington, a 63-unit multifamily community in Burlingame, south of San Francisco, for an undislcosed amount. Notwithstanding a slowdown in multifamily and apartment sales in the area throughout 2022 and 2023, the W&D Northern California Investment Sales team arranged the sale at a cap rate of 4.17% and a price per square foot of $556.
Nate Oleson, Rob LeDoux and Matt Neault represented both the buyers and sellers in the transaction. A notable advantage of The Arlington is the property’s immaculate physical condition, which is a direct result of significant capital invested by the seller, according to Walker & Dunlop.
The property offers a variety of studio and one-bedroom apartment homes, along with a top-floor penthouse, and features a variety of community amenities.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).