Island Apartments in San Leandro, CA Sold for $9MM

San Leandro, Colliers International, Delaware Statutory Trusts, Niceco, Island Apartments, International Association of Outsourcing Professionals

26 units at 16000 Mateo Street set high-water mark of $346,153 per unit.

Redwood City, CA (June 3, 2019) – Although many investors are moving to the sidelines while evaluating multi-family investments, the 26-unit Island Apartments in San Leandro, CA sold for a record price of $346,153 per unit and received multiple offers. The sale, which closed on May 17, 2019, shatters a record for highest price per unit for a commercial apartment building in San Leandro, CA.

Colliers International Vice President Cory Waxman, the exclusive listing broker commented, “We were successful in procuring a record-breaking price per unit in San Leandro during the advanced stage of this real estate cycle. This is a true testament to our strategic marketing efforts to drive value for our client.”

The seller of the Island Apartments wanted to reposition their equity into a passive investment vehicle and exchanged the property into multiple Delaware Statutory Trusts (DST). The buyer of the property was Niceco, LLC. The transaction outcome was successful for both parties.

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.

For the latest news from Colliers, visit Colliers.com 

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