Saturday, August 8, 2015

IEC Acquires Rare Unrenovated Apartment Building in Marin County, CA


Marin Gardens Apartments, San Rafael, CA


Marin County, CA – Interstate Equities Corporation (IEC), an institutional fund manager has acquired a rare, un-renovated, 46-unit multifamily community in San Rafael, California from a private family owner.

Marshall Boyd
The 45-year-old Marin Gardens Apartments is still in its original condition, providing a tremendous opportunity to create value, according to Marshall Boyd, President of IEC.

“This was a unique opportunity based on location and property condition,” says Boyd.  “In Marin County, very few apartment communities in the 25 - 100 unit range are ever available for sale.  Families tend to own these properties for generations.

“ Further, identifying a property that has been kept in good condition but hasn’t been renovated is akin to finding a needle in a haystack in the current multifamily market.”

Ryan Wagner of Colliers represented both the buyer and the seller in the transaction.

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

Lexi Astfalk
Account Executive
Brower, Miller & Cole
895 Dove Street, Third Floor
Newport Beach, CA 92660
p: (949) 955-7940


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