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SAN FRANCISCO — Sares Regis Group of Northern California, along with an institutional equity partner, has sold the 195-unit Celeste Apartments in South San Francisco. North Carolina-based Bell Partners purchased the property on behalf of its Bell Growth & Income Fund investors. The new owner will rename the asset, located at 401 Cypress Ave., to Bell South City II. Terms of the acquisition were not released.
Completed in 2024, the eight-story multifamily building features studio, one- and two-bedroom apartments, a fitness loft and secure EV parking. At delivery, the property was 95 percent occupied.
Berkadia represented the seller in the transaction.