REBusinessOnline

NKF Arranges $116M Sale of 603-Unit Multifamily Portfolio Near San Francisco

Reliant-Group-Portfolio-CA

Located in metro San Francisco, the seven-property portfolio features a total of 603 apartments.

NAPA, VALLEJO, HERCULES, ANTIOCH, DUBLIN AND HAYWARD, CALIF. — Newmark Knight Frank (NKF) has arranged the sale of a seven-property multifamily portfolio located in the Bay Area. San Francisco-based Reliant Group Management purchased the portfolio from an undisclosed private company for $116 million.

Totaling 478,345 square feet, the portfolio features 603 apartments. The buyer plans to convert four of the properties, totaling 369 units, to affordable housing with the use of bonds and low-income housing tax credits. Three of the property (234 units) will continue to be maintained as workforce housing. Additionally, the buyer plans to renovate all apartments, investing approximately $40,000 per unit.

Richard Knutson, Anthony Pappageorge, Zach LeBeouf, Will Thomas and Kathy Knutson of NKF represented the seller in the transaction.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties