Group’s Transactional Volume Nears $100 Million in Four-Month Period
San Francisco, CA – August 16, 2012 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that since April 1 the firm’s Multi-Family Group based in Northern California has brokered the sale of more than 30 multi-family properties in the San Francisco Bay Area for a collective total of over 370 units. The properties ranged from duplexes to multi-building complexes. A majority of the properties were located in the South Bay and along the Peninsula, with sales also taking place in the East Bay, San Francisco and the North Bay markets.
Jamie D’Alessandro represented both Buyer and Seller in the purchase and sale of a 31-unit apartment complex located in San Mateo for $4,340,000. Scott Gerber represented the Buyer in the purchase of the Cedarwood Apartments complex, a 35-unit apartment complex located on College Avenue in Santa Rosa that sold for a price of $4,300,000. Another important transaction was the sale of 3681 Cape Cod Court, a 28-unit apartment complex in West San Jose situated off of San Tomas Expressway at Payne Avenue that sold for $4,150,000. Patrick Conkin handled the brokerage on behalf of the Seller of this low income property (with deed restrictions) that sold to an all-cash buyer. Additionally, Conkin and Justin Bautista teamed up to represent both Buyer and Seller in the purchase and sale of a 24-unit apartment complex known as Lee Rae Apartments at 2980 Huff Avenue also in West San Jose near Interstate 280 and Highway 17 for $3,671,550. Another of the Group’s recent significant deals was the sale of a 20-unit complex at 212-220 Selwyn Avenue in Milpitas located near the East Calaveras Boulevard & Interstate 680 junction that sold for $3,100,000. Conkin solely brokered this transaction on behalf of the Seller.
A sampling of other notable sales handled by the Cassidy Turley Multi-Family Group during this time period is provided below. This select list of transactions involved brokers Justin Bautista, Neel Bhatia, Vinay Bhatia, Patrick Conkin, Jamie D’Alessandro, Bryan Danforth, Scott Gerber, Brian Henry, Scott Kilpatrick, and Jeff Swinney.
- 2 units at 746-750 Webster Street, Palo Alto for $2,445,000. D’Alessandro represented the Seller.
- 14 Units at 1225-1229 South B Street, San Mateo for $2,295,000. Danforth and Henry represented the Buyer.
- 12 Units at 3725 Miramar Way, Santa Clara for $2,140,000. Bautista and Henry represented the Seller. Bautista, Henry and V. Bhatia represented the Buyer.
- 9 Units at 2180 Carlmont Drive, Belmont for $2,110,000. N. Bhatia represented both Buyer and Seller.
- 2 Units at 738-740 Webster Street, Palo Alto for $1,995,000. D’Alessandro represented the Seller.
- 12 Units at 1157-1161 Willow Road, Menlo Park for $1,990,000. Danforth and Henry represented the Seller.
- 4 Units at 847 Roble Avenue, Menlo Park for $1,935,000. Bautista represented the Seller.
- 7 Units at 1567 Regent Street, Redwood City for $1,790,000. Kilpatrick represented both Buyer and Seller.
- 12 Units at 511 East Reed Street, San Jose for $1,690,000. Bautista and Conkin represented the Seller.
- 10 Units at 677 Iris Avenue, Sunnyvale for $1,660,000. Danforth and Henry represented both Buyer and Seller.
- 6 Units at 1 Shelley Drive in Mill Valley for $1,635,000. Gerber represented the Seller.
- 6 Units at 2031 Ascot Drive, Moraga for $1,500,000. Swinney represented both Buyer and Seller.
- 7 Units at 45 Monroe Street, Santa Clara for $1,465,000. Bautista and Henry represented the Seller. Kilpatrick represented the Buyer.
- 12 Units at 649 South 9th Street, San Jose for $1,300,000. Conkin represented the Seller.
- 12 Units at 624 Enos Way, Livermore for $1,300,000. Russell represented the Seller.
- 5 Units at 1144 Capuchino Avenue, Burlingame for $1,250,000. Danforth and D’Alessandro along with William Syme also of Cassidy Turley represented the Seller. N. Bhatia represented the Buyer.
- 6 Units at 2351 Sutter, Santa Clara for $1,200,000. Henry represented the Buyer who was in a 1031 Exchange and did an all-cash close without financing. The sale closed in under 30 days.
- 4 Units at 635 West Olive Avenue, Sunnyvale for $1,041,760. Conkin represented the Buyer. Bautista represented the Seller.
- 6 Units at 553 South 6th Street, San Jose for $1,035,000. Bautista represented the Seller.
One of the most active apartment brokerage teams, Cassidy Turley’s Multi-Family Group relies on its proven agent-team model to create successful apartment transactions throughout Northern California. Its experienced, professional agents provide relentless client advocacy, unparalleled original research, and intimate local market knowledge.
Ric Russell, Managing Partner – Investment Division, (415) 677-0448, email@example.com
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services in Northern California. With 15 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,300 transactions, totaling over $4.3 billion in 2011.