Levin Johnston Closes $121.5 Million in First Quarter Bay Area Multdifamily Transactions

Adam Levin

BAY AREA, CA (April 1, 2021) – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, announced that it has successfully closed more than $121.5 million in multifamily transactions involving a total of 329 units in the San Francisco Bay Area during the first quarter of 2021, including the $62.9 million sale of Marymount Gateway & The Summit at Skyline at 435 Gateway Drive in Pacifica, California.

 The properties are located throughout San Mateo, Santa Clara, and Alameda counties and range in size from three to 170 units, demonstrating the team’s ability to strategically procure buyers and identify multifamily assets to fit varying investor needs, according to Adam Levin, Executive Managing Director of Levin Johnston.

 “Multifamily transaction activity in suburban markets throughout the Bay Area has started out strong in 2021, as investors feel a renewed sense of confidence in light of the vaccine rollout and planned return of Big Tech to the office in the coming months,” says Levin.

“Transactions like the sale of the 170-unit Marymount Gateway & The Summit at Skyline are indicative of this faith and investor appetite.

 Robert Johnston

  "We were able to secure a strong price for the seller and identify a buyer with a sound strategy for long-term investment in the San Mateo County submarket.”

Robert Johnston, Senior Managing Director of Levin Johnston, adds that the seller in the transaction is seeking to diversify their portfolio within the Bay Area market and will trade into multiple properties as part of a 1031 exchange.

 “With some uncertainty looming over whether the 1031 exchange program will continue as-is in the future, many savvy investors are thinking ahead and repositioning their portfolios now to take full advantage of current tax benefits,” explains Johnston.

  Contacts:

Alex Caswell / Elisabeth Manville  

Brower Group

(949) 438-6262

acaswell@brower-group.com

 

 

BentallGreenOak Closes Deal to Acquire Metropolitan Real Estate Equity Management

 

 Sarah Schwarzschild

NEW YORK, NY — BentallGreenOak (BGO) announced today that it has closed on the acquisition of Metropolitan Real Estate Equity Management, LLC (Metropolitan) from global investment firm The Carlyle Group Inc. (NASDAQ:CG).

The deal combines BGO’s Core, Core Plus, Value Add and Debt strategies with Metropolitan’s integrated primary, secondary and co-investment real estate strategies, to create a combined and diversified real estate platform with approximately USD$55 billion in assets under management (as of December 31, 2020; pro forma for the acquisition of Metropolitan Real Estate Equity Management).

Sonny Kalsi

Within BGO’s real estate platform, Metropolitan will operate under the name BGO Strategic Capital Partners and will continue to benefit from the strength and depth of its existing leadership team in New York, Hong Kong and London.

“Through the creation of BGO Strategic Capital Partners, we are drawing on the exceptional capabilities of a global market leader in the secondaries and co-investment markets to offer a further diversified range of global investment strategies and opportunities for our clients around the world,” said Sonny Kalsi, Chief Executive Officer of BentallGreenOak.

 “We are committed to investing the resources and capabilities of our global real estate platform to unlock the multiple drivers for growth and additional scale that we envision for this part of our business.

 John So

"BGO’s leadership team are thrilled to be working alongside Sarah Schwarzschild, John So, and the impressive team of investment professionals that they have assembled to build a market leader for the long term.”

“The transformation of Metropolitan Real Estate to BGO Strategic Capital Partners is the start of a very exciting new chapter that extends the global reach of our strategies and brings an infusion of new resources and capabilities to further strengthen our offerings to investors,” said Schwarzschild and So, Co-Heads of BGO Strategic Capital Partners.

“We are joining a firm whose culture and entrepreneurial spirit is aligned with the values of our team and we look forward to building for the future with our new colleagues.”

 Contact:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.bentallgreenoak.com