Mallard Pointe Multi-Family Development in Belvedere Sells at $828,000 Per Unit

Colliers International, San Francisco, Bay Area, Belvedere, Millard Pointe

Colliers Negotiates Record Per-Unit Price for Exclusive Mallard Pointe Multi-Family Project North of San Francisco in Transaction Valued at $18.2 Million

SAN FRANCISCO – March 22, 2017 – In what is being called the first arm’s length multi-family (5+ units) transaction in the history of the San Francisco suburb of Belvedere, Calif., Mallard Pointe, a lush, resort-like multi-family development has been sold in a transaction valued at $18.2 million, representing the highest per-unit price ever paid for such a development on the West Coast, north of San Francisco, Colliers International has reported. The record per unit price was approximately $828,000.

Senior Vice President Ryan Wagner of Colliers International represented both parties to the transaction, in conjunction with his brother Matt Wagner of Paragon Commercial. The seller was a local private investor who had owned the property for almost 80 years. The buyer was an unidentified private investor from the Bay Area.

Built in 1951 and renovated several times during the past five decades, the development, which is located on exclusive Belvedere Lagoon, directly across from history-rich Angel Island, a California state park, features 22 two-bedroom units averaging approximately 1,000 square feet. Some 16 of the single-story units feature private expansive gardens and private piers on the exclusive Belvedere Lagoon.

“When we won the listing assignment, we knew that this was an incredibly matchless property, a once-in-a-lifetime gem, so we marketed it like you would the Hope Diamond,” said Ryan Wagner. “In retrospect, it had all the hallmarks that a record deal could have, especially its waterfront location, but we never gave that a thought until the offers starting coming in. That’s when we knew we were entering record territory and we were right.”

About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.

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