BAY AREA, CA – Levin Johnston of Marcus and Millichap, a leading US multi-family real estate team specializing in asset management through commercial real estate investments, has successfully completed two multi-family acquisitions valued at US $ 30.8 million Dollar announced in the East Bay area of California on behalf of an active local private investor.
The acquisitions include two shared apartments totaling 96 units in the Hayward submarket, which benefits from its position in a market with the highest number of tech jobs per capita – a factor that, according to Adam Levin, Executive Managing Director of Levin Johnston, is fueling sustained rental demand will .
“These acquisitions represent a tremendous opportunity for long-term value creation and give our client the opportunity to complete two strategic 1031 exchange deals and reinvest in the resurgent Bay Area economy,” said Levin. “With investment activity picking up rapidly in the Bay Area, we were able to seamlessly secure and complete these acquisitions thanks to our close relationship with the buyer and our extensive knowledge of this dynamic market.”
Robert Johnston, Senior Managing Director of Levin Johnston added, “Our team identified two valuable assets in Alameda County that gave our client additional diversification within their portfolio. We continuously guide our clients towards the best assets that are tailored to their individual portfolio and investment goals, and we help them to continuously gain confidence and traction in their position in the market. “
Johnston notes that both of the shared apartments are in well-located residential areas and are positioned to benefit from the growing need for apartment buildings as local Bay Area workers return to the office or migrate to the East Bay to benefit from local job growth .
Recent Levin Johnston transactions include:
$ 15.85 million acquisition of Casa De Luna townhomes
Marcus & Millichap’s Levin Johnston arranged for a local private investor to acquire The Townhomes of Casa De Luna, a 48-unit multi-family community in Hayward, California, for $ 15.85 million.
Casa De Luna provides residents with proximity to freeways, freeways, and public transportation for direct travel to nearby work centers such as San Francisco, San Jose, and Union City.
Adam Levin of Levin Johnston represented Brian Murphy of Dimond Property, LP as the seller in the transaction.
Acquisition of Shadow Creek Apartments for $ 15 million
Levin Johnston also led the acquisition of Shadow Creek Apartments, a 48-unit residential community in Hayward, California, for $ 15 million on behalf of the same private local investor from Casa De Luna.
Shadow Creek Apartments offer direct access to the San Mateo Bridge, Dry Creek Pioneer Regional Park, and various nearby parks and hiking areas. Renters also enjoy close proximity to educational institutions, with California State University, Easy Bay, just a ten-minute drive away.
Adam Levin, Robert Johnston and Chris Saiz of Levin Johnston represented Adeline Machado as the seller in the transaction.
For more information on Levin Johnston’s $ 100 million real estate available, please visit www.levinjohnston.com
ABOUT LEVIN JOHNSTON: Levin Johnston Group is one of the leading multi-family brokerage teams in the United States specializing in asset management through multi-family and commercial real estate investments. With a focus on growing and maintaining wealth for each individual client, the Levin Johnston team is an expert in asset sales and acquisitions, value-based asset management, 1031 exchanges and ongoing advisory services. Since its inception, Levin Johnston Group has directed more than $ 2 billion in transactions, resulting in stable risk-adjusted returns for investors across the United States. Levin Johnston Group is part of the Marcus & Millichap office in Palo Alto. Please visit levinjohnston.com for more information