East Bay apartments are bought in deal that points to soft real estate market

  • 📰 mercnews
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 68%

Österreich Nachrichten Nachrichten

Österreich Neuesten Nachrichten,Österreich Schlagzeilen

A big apartment complex in Dublin has been bought for $45 million-plus,

DUBLIN — A big apartment complex in Dublin has been bought for $45 million-plus in a deal that hints at weakness in some segments of the Bay Area residential real estate market.

“Tralee Village was a prime opportunity to acquire a well-located, high-quality asset in a highly sought-after submarket that has experienced significant population and employment growth since the pandemic,” said Sean Burton, CityView’s chief executive officer. The deal was arranged through Jason Parr, a senior managing director with Berkadia, a commercial real estate firm.

In 2017, JB Matteson, a San Mateo-based real estate investment firm, paid $55 million for Tralee Village Apartments, county public records show. After the jump in interest rates, the average price for apartment buildings that were sold was $520,700 per unit, based on selected Bay Area transactions that were completed in 2024 and in the final three months of 2023.

“With a 95% average historical occupancy and robust market fundamentals, Tralee Village fits squarely in our strategy of acquiring communities in supply-constrained markets with high barriers to entry at significantly below replacement cost,” Burton said.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 88. in AT

Österreich Neuesten Nachrichten, Österreich Schlagzeilen