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| Creekside Apartments, an 80-unit multifamily community in San Leandro, CA |
San Leandro, CA – Trion
Properties, a
private equity real estate firm that specializes in multifamily investments in
western markets, has acquired Creekside Apartments, an 80-unit
multifamily community in San Leandro, California, for $20.5 million.
The transaction is Trion’s fourth acquisition in San Leandro
since 2015 and ninth in the East Bay, representing the firm’s continued growth
within the market, according to Max Sharkansky, Managing Partner at
Trion Properties.
“As an experienced owner and operator of apartment
communities in the region, we are excited to add Creekside Apartments to our
portfolio and execute our proven value-add strategy to deliver a property that
serves the local community and position it to generate strong ROI for our
investors,” says Sharkansky.
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| Max Sharkansky |
“We were fortunate to be well-positioned to take advantage
of the opportunity to acquire this asset at an attractive price, despite the
hurdles caused by the pandemic.”
Built in 1969, Creekside Apartments features large one- and
two-bedroom apartments averaging over 880 square feet, each with a private
balcony or patio.
Amenities include a swimming pool, laundry facilities on each
floor, a courtyard with picnic area, and a gated parking lot.
Creekside Apartments is located at 424 Callan Avenue in San
Leandro, California. The firm’s San Leandro portfolio also includes Metro 348,
a 38-unit apartment community; Metro 77 and 85, a 146-unit apartment community;
and Soji Apartments, a 61-unit apartment community.
CONTACTS:
Micaela Fehrenbach / Elisabeth Manville
Brower Group
(949) 438-6262
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