Sares Regis Sells 90-Unit Encore Apartment Community in Redwood City, California
REDWOOD CITY, CALIF. — Sares Regis Group of Northern California has completed the disposition of Encore, a multifamily property located at 855 Veterans Blvd. in Redwood City. Terms of the transaction were not released.
The six-story Encore features 90 apartments in a mix of one-, two- and three-bedroom layouts and nearly 5,000 square feet of amenity space. Residences offer stainless steel appliances, in-home washers/dryers, solid-surface countertops, high-efficiency central heat and air conditioning, hardwood-style plank flooring, walk-in closets, Nest thermostats, keyless entry hardware and storage space.
Amenities include a fitness center; top-level roof deck and community room; outdoor courtyard with barbecue, fireplace and dog run; Wi-Fi-enabled common areas; multi-level parking with electric vehicle charging stations; and bike storage.
Stan Jones, Phil Saglimbeni, Sal Saglimbeni and Alex Tartaglia of Institutional Property Advisors, a division of Marcus & Millichap, handled the transaction.
The seller and its affiliate companies built, leased and managed the community prior to sale.