Eden Housing Purchases Two Multifamily Communities in Concord, California for $37.3M

by Jeff Shaw

CONCORD, CALIF. — Eden Housing acquired a two-property apartment portfolio in Concord for $37.3 million. Concord is approximately midway between San Francisco and Sacramento.

Located at 1770 Adelaide St., Sunset Pines is a 69-unit community with amenities such as a pool and a clubhouse. Coral Court Apartments is located at 1491 Detroit Ave. and offers 47 units, as well as a fitness center. 

Keith Manson, Zachary Greenwood and Mac Watson of CBRE represented the undisclosed seller in a Naturally Occurring Affordable Housing (NOAH) transaction. Eden Housing will convert the portfolio into affordable housing. 

Eden Housing used $6 million in equity from the City of Concord to finance the transaction. Income restrictions for the converted communities were not disclosed.

You may also like