Saturday, March 14, 2015

East Bay Multifamily Asset in Antioch, CA Trades at $12.4 Million


Village at Park View Apartments,  2800 Gentrytown Drive, Antioch, CA

Adam Levin
 ANTIOCH, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Village at Park View Apartments, an 85-unit apartment complex in Antioch, Calif. The $12.4 million sales price equates to $145,882 per unit.

            Adam Levin, first vice president investments in Marcus & Millichap’s Palo Alto office, and Nathan Gustavson, senior associate in San Francisco, represented the seller. Michael Henshaw, vice president investments in Palo Alto, procured the buyer.

“Multifamily assets such as Village at Park View Apartments are providing East Bay apartment operators with opportunities to reap the benefits of being a low-cost alternative in the Bay Area,” says Levin.

“Located in an area with high growth potential and lower property values than the surrounding Bay Area markets, this investment real estate asset presents the new owner with huge upside potential,” adds Henshaw.



Nathan Gustavson

The apartment community is located at 2800 Gentrytown Drive in Antioch. It is adjacent to 7.4-acre Village East Park, a five-minute walk from Somersville Towne Center mall and near access to the Bay Area Rapid Transit (BART) system.

            Built in 1980 on more than four acres, Village at Parkview Apartments features 10 two-story buildings and a mix of one-, two- and three-bedroom floor plans. Amenities include a community laundry room, a swimming pool, and ample on-site parking.

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

Gina Relva
Public Relations Manager

(925) 953-1716

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