Sunday, April 9, 2017

Trion Properties Expands Bay Area Portfolio; Acquires Value-Add Multifamily Communiity in San Leandro, CA for $36.6 Million

Bel Brook and Hideaway Apartments, San Leandro, CA

Max Sharkansky
SAN LEANDRO, CA – Trion Properties, a private equity real estate firm with a niche focus on value-add multifamily investments, along with its joint-venture partner DVO Real Estate, a New York-based private real estate investment firm, has acquired Bel Brook and Hideaway Apartments, a 146-unit value-add multifamily property at 77-85 Estabrook Street in the San Leandro submarket of the East Bay, for $36.6 million.

This is Trion Properties’ fourth Bay Area acquisition in less than 15 months, bringing its existing Bay Area multifamily portfolio to a total of 262 units, according to Max Sharkansky, Managing Partner at Trion Properties.

            “San Leandro is thriving and experiencing tremendous revitalization, making it poised for long-term growth and investment potential,” says Sharkansky. 

“Located in the heart of the dynamic East Bay, this property is within walking distance to a BART station and a mile away from the San Leandro Technology Campus, a 750,000 square-foot mixed-use development which will bring an estimated 1,800 tech jobs to the area.

“The enormous job growth throughout this region is driving demand for quality housing located in close proximity to transit options and major employers.”

            Sharkansky notes that the entire East Bay is undergoing rapid growth as major tech giants and employers expand their presence in this region. Uber will relocate its corporate headquarters to Oakland, while Tesla has brought thousands of high paying jobs to Fremont.

Mitch Paskover
            In addition to the region’s technology sector growth, San Leandro is home to three of the Bay Area’s largest craft breweries, a thriving downtown district with a host of retail and restaurant amenities, and the San Leandro Monarch Beach, a 40-acre mixed-use development anticipated to break ground this year.

“We are bullish on the East Bay and have a proven track record in this market,” continues Sharkansky, who notes that Trion recently acquired two value-add multifamily assets in Hayward and San Leandro last year.

“This property is located only a block away from our Metro348 property on the same street. Metro348 boasts a strong and diverse mix of tenants, many of whom work in the technology and healthcare industries, including employers such as Uber, Kaiser, and GE Health. 

"Based on our enormous success in repositioning our existing Metro348 asset, the Bel Brook and Hideaway Apartments presents a unique opportunity for us to execute a similar value-add investment strategy and capitalize on the tremendous growth of this region, enabling us to generate strong cash flow and risk-adjusted returns to our investors.”Trion Properties and joint-venture equity partner DVO Real Estate acquired this property from the John Sullivan family.

Brad Lehman
Acquisition financing was arranged by Continental Partners through NXT Capital. John Leyvas Jr. and Brad Lehman of Newmark, Cornish and Carey represented both the buyer and the seller in this transaction.

The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.

DVO’s team is made up of highly experienced real estate investors with more than 100 years of combined experience in the industry, including 30,000+ apartment units and $6+ billion of real estate and private equity transactions. Additional information is available at  or by calling +1.212.391.0902.

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

Lauren Burgos / Katie Kea
Brower, Miller & Cole
(949) 955-7940

No comments: