CONCORD, California – 1/25/2016 – NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, is proud to announce the sale of a 20-unit Multifamily property located at 4819 Clayton Rd. in Concord, CA. Vice President Ethan Berger, Investment Advisor Monjid Aldiyyat, and the NAI Northern California Multifamily Team represented both the seller and buyer in the $3.75 million dollar sale of the building marked as the 7th Multifamily closing in Concord in 2016.
Woodstone Apartments is a 20-unit property built in 1963 comprised of all 2 -Bed and 1-Bath units. Located along Clayton Rd., a main street within Central Contra Costa County, the property is in close proximity to a multitude of commuting options, downtown Concord, a number of local amenities, and major Bay Area employment centers. As an ideal location coupled with a number of renovations for several units, investors have shown increased interest for this value-add opportunity.
“There were a few challenging elements to this transaction. Both the Buyer and Seller were trading out of multiple properties simultaneously, so the transaction had to adhere to a pretty strict timeline with a number of coordinating elements,” says Ethan Berger, Vice President at NAI. “Additionally the property had been previously mismanaged and a number of the leases and records could not be retrieved from the prior management company and had to be created and executed during escrow.”
About NAI Northern California
NAI Northern California is full service commercial real estate firm in the San Francisco Bay Area and part of NAI Global, the largest managed network of Commercial Real Estate Brokerage Service firms in the World. Recognized as one of the Top 25 Commercial Real Estate Firms by the East Bay and San Francisco Business Times, NAI Northern California provides comprehensive brokerage, leasing, debt, advisory, and property management services for corporate end users, property owners, developers, investors and financial institutions. To learn more, visit www.nainorcal.com.
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. To learn more, visit www.naiglobal.com.