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| 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
http://twitter.com/Ttho
http://www.linkedin.com/in/TerriThornton
Partner, Thornton
Communications
Phone: 404-932-4347
Email:
Terri@TerriThornton.com
Website: www.TerriThornton.com
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