NAI Northern California Represents Buyer and Seller in $8MM Sale of 117-Unit Davis-Coit Apartments in Oakland

Davis-Coit Apartments, Oakland, East Bay, Bay Area, NAI Northern California

Davis-Coit Apartments, Oakland, East Bay, Bay Area, NAI Northern California

OAKLAND, California – 12/20/2016 – NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, is pleased to announce the sale of the Davis-Coit apartments, a 117-unit multifamily complex located at 1445 Harrison Avenue in Oakland, California. Senior Vice President Grant Chappell represented both the buyer and seller in the $8 million dollar sale, one of the largest in the city of Oakland.

A historically significant property, the Davis-Coit Apartments features 105 affordable studios, seven 1-Bedroom, five 2-Bedroom, and one commercial unit. A cell tower, onsite parking, and storage provided additional revenue. Due to close proximity to downtown and higher vacancy factor at close, this property presented a unique value add opportunity for the buyer.

According to Grant Chappell, Senior Vice President at NAI, “The sale presented unique challenges in working with two state agencies and two regulatory agreements, but NAI was able to secure a strong price for the seller and close the deal in approximately 6 months.”

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.

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