Group’s Transactional Volume Exceeds $140 Million in 3-Month Period
December 10, 2012 – Cassidy Turley’s Multi-Family Group has announced that between mid August and mid November, the group successfully brokered the sale of more than 35 multi-family properties in Northern California for a collective total of approximately 530 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 extending into the Central Valley, San Francisco, North Bay and Sacramento markets. In the previous seven months ending November 15th, the Group has sold a brisk total of more than 65 multi-family properties comprised of approximately 900 units with over $240 million in transactional volume.
The following represent some of the most notable transactions that the Group closed in the ±90-day period spanning mid August to mid November. Brian Henry represented the Buyer and Seller in the acquisition of the 88-unit Waverly at Campbell apartment complex in West San Jose (Campbell) for $16,725,000. Ric Russell represented both Buyer and Seller in the sale of the 104-unit Meadowood Apartments complex located at 410 Ellesmere Drive in Dixon for $10,200,000. Jocelyn Jamias represented both Buyer and Seller in the sale of the 36-unit Lincoln Park Apartments at 1601 Santa Clara Street / 750 Lincoln Street in Santa Clara for $9,200,000. Scott Gerber represented both Buyer and Seller in the sale of the 72-unit La Mancha Apartments complex in Santa Rosa for $8,800,000.
A sampling of other key notable sales handled by the Cassidy Turley Multi-Family Group during this three-month time period is provided below. This select list of transactions involved brokers Justin Bautista, Neel Bhatia, Vinay Bhatia, Jamie D’Alessandro, Brian Henry, and Justin Sieber.
• 26 units at 1900 Scott Boulevard, Santa Clara for $4,500,000. Sieber, Henry and D’Alessandro represented the Seller and Henry and D’Alessandro represented the Buyer.
• 19 units at 523 Chestnut Steet, San Carlos for $3,850,000. D’Alessandro and N. Bhatia represented the Seller.
• 24 units at 2991-3001 Magliocco Drive in West San Jose for $3,775,000. Bautista represented the Buyer.
• 18 units at 618-634 Buckeye Street, Redwood City for $2,675,000. D’Alessandro and Henry represented both Buyer and Seller.
• 14 units at 953 Helen Avenue, Sunnyvale for $2,500,000. Bautista and V. Bhatia represented both Buyer and Seller.
• 8 units at 851 Highland Avenue, San Mateo for $2,300,000. N. Bhatia represented both Buyer and 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.
Contact:
Ric Russell, Managing Partner – Investment Division, (415) 677-0448, rrussell@ctbt.com
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 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.
