SAN LEANDRO, CALIF. — A joint venture between Trion Properties and DVO Real Estate has acquired the 146-unit Bel Brook and Hideaway Apartments in San Leandro for $36.6 million. The community is located at 77-85 Estabrook St.
Bel Brook and Hideaway was originally built in 1967. It was 94 percent occupied at the time of acquisition.
The JV plans to modernize the property through exterior and interior renovations, including the installation of new vinyl wood plank flooring, stainless steel kitchen appliances, modern cabinetry, high-end finishes and bathroom upgrades. The property will also be rebranded and receive new signage.
John Leyvas Jr. and Brad Lehman of Newmark, Cornish and Carey represented both the buyer and seller, John Sullivan Family, in this transaction. Continental Partners arranged acquisition financing through NXT Capital.