Friday, January 13, 2017

29th Street Capital Acquires 11th Bay Area Multifamily Property

Casey Davis
Concord, CA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Twin Peaks Apartments in Concord, California.

The 39-unit community is located in the East Bay submarket of the San Francisco Bay Area. Twin Peaks is comprised completely of two-bedroom townhome units and neighbors another multifamily property, Tradewinds Apartments, which 29SC acquired in October 2016.

The transaction closed Jan. 12. The sale price was not disclosed.

29SC purchased the asset off-market through a prior relationship with the seller. The firm plans approximately $485,000 worth of renovations. Interior upgrades will focus on bathrooms, flooring and kitchens. Exterior improvements will include fresh paint, modern signage, window replacements throughout all units and landscape upgrades.

“We believe this is another strong property to add to our East Bay portfolio,” said Casey Davis, 29th Street Capital’s Vice President of Acquisitions for California. “Similar to Tradewinds, this is a value-add asset in a strong location with ample employment opportunities and extremely strong submarket fundamentals.”

For a complete copy of the company’s news release, please contact:

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347


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