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SAN FRANCISCO — James Investment Partners has acquired The Terraces, a 72-unit, condominium-quality development in the East Bay community of El Sobrante, for $21.1 million. The community is located at 6000 Sunhill Circle.
The Terraces was built in phases beginning in 1991. It was expanded in 2003.
All units are about 1,000 square feet and feature two-bedroom floor plans with private garages. Community amenities include a swimming pool, Jacuzzi spa and a playground. There is an opportunity to convert the existing leasing office into a fitness center.
Brandon Geraldo and Ryan Wagner of Colliers International represented both the buyer and seller, an affiliate of Abacus Capital Group, in this transaction.