Redwood City, California – Colliers International today announced the sale of The Capri Apartments, an 85-unit apartment building located in Redwood City, CA, according to Rick Knauf, the Executive Managing Director of the Redwood City office. The property sold for $25,750,000.
Don Sung, Associate Vice President at Colliers along with Larry Aikins of Terrace Associates handled the transaction. “It is great to see our multi-family platform continue to grow and achieve outstanding results for our clients,” Knauf says.
The Capri Apartments are located at 1491 Hess Rd, 441 Poplar Ave and 403 Poplar Ave in Redwood City, CA. The property features an attractive unit mix with thirty-four two-bedroom/two bath units, forty-nine one bedroom/one bath units, one studio/one bathroom unit, plus one one bedroom/one bathroom unit currently used as an office.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.