Multifamily

OAKLAND, CALIF. — San Francisco-based St. Regis Properties has completed the sale of Idora Apartments, a Class A multifamily property in Oakland’s Tamescal neighborhood. The Oakland Fund for Public Innovation acquired the asset for $12.6 million, or $380,000 per unit. Located at 5239 Claremont Ave., the five-story property features 33 one- and two-bedroom units, averaging 863 square feet, and 2,369 square feet of ground-floor retail space. Apartments offer washers/dryers, central heat and air conditioning, stainless steel appliances, quartz countertops, European cabinetry, wood-style flooring, carpeting, large closets and private balconies. Community amenities include a rooftop terrace and barbecue, resident lounge, secure garage parking, bike storage and electric vehicle charging stations. The buyer purchased the property through its Rooted program, which leads efforts to provide equitable housing solutions for educators. Financing was provided through the San Francisco Housing Accelerator Fund. ArtHaus Partners, a Bay Area-based vertically integrated multifamily developer and operator, worked as a consultant to the buyer during the acquisition. Jason Parr, John Hansen and Scott MacDonald of Berkadia represented the seller in the transaction.

LOS ANGELES — Kidder Mathews has brokered the $14.7 million sale of The Judson, a historic multifamily property in downtown Los Angeles. Darin Beebower and Dakoda Iversen of Kidder Mathews represented the undisclosed seller in the deal. The name of the buyer was not released. Located at 424 S. Broadway, The Judson features 60 apartments. Originally constructed in 1906, the property underwent an $11 million gut renovation, adaptive reuse and restoration led by David Lawrence Gray Architects that transformed the obsolete office building into loft-style residences. The renovation included full replacement of all electrical, mechanical and plumbing systems, upgraded seismic retrofitting and the addition of air conditioning, new decks and a rooftop spa and garden.