 |
| 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
No comments:
Post a Comment