Trion Properties Launches Third Fund

 

Max Sharkansky

LOS ANGELES, CA – Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in value-add multifamily investments, has announced the launch of Trion Multifamily Opportunity Fund III, LLC, its third investment fund vehicle.

 The fund, which will target $75 million in equity to deliver $175-200 million in buying power, will primarily invest in the acquisition, improvement, and repositioning of undervalued and opportunistic multifamily assets in Western and Southeastern U.S. markets.

  Fund III anticipates acquiring 8-12 properties over its investment period.

 The launch of this fund comes on the heels of the closing of the firm’s second fund, which has 215 diverse investors, including accredited high net worth investors, RIAs, and family offices, and is allocated across value-add and opportunistic multifamily investments within growing submarkets demonstrating strong growth fundamentals, according to Max Sharkansky, Managing Partner at Trion Properties.

 

Mitch Paskover

“With our first two funds, we executed an investment strategy that proved quite resilient, which allowed us to take advantage of several significant opportunities during both incredibly strong and uncertain economic times,” says Sharkansky.

 “We are able to leverage our long-standing industry relationships to acquire these opportunities primarily through off-market transactions. 

"This enabled us to build a strong portfolio of communities, acquired for highly competitive prices, which were positioned to provide strong returns to our investors.”

 To date, the firm has acquired 64 properties and has completed more than $1 billion in transactions.

 Mitch Paskover, Managing Partner at Trion Properties adds, “Trion’s sole focus on our proven strategy of acquiring and repositioning undervalued multifamily assets in key markets, combined with our vertically integrated property management platform, has led to demonstrable success.

 "The average investor annualized return on our properties exceeds 30% annually, and all properties purchased with Funds I and II have either met or exceeded projections or are on pace to do so.

 "We will continue to implement this strategy on assets acquired with Fund III on an expanded scale.”

 Contacts:

Micaela Fehrenbach / Elisabeth Manville

Brower Group, Inc. 

The Smart Agency^® for Smart Clients who want Smart Work 

220 Newport Center Drive, Suite 22 · Newport Beach, CA 92660

(949) 438-6262

emanville@brower-group.com

Micaela Fehrenbach    

 Account Manager
O 949 438 6262 x8

http://www.trion-properties.com/

 

Levin Johnston Directs Acquisitions of Three California Bay Area Properties Totaling $68.25 Million

The Storage Spot, 220 West Ahwanee Avenue
Sunnyvale, CA

 

 BAY AREA, CA – 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 recently directed $68.25 million in acquisitions in the Bay Area on behalf of a single buyer, a local private investor.

 The three acquisitions include a 65,805 square-foot self-storage facility in Sunnyvale, California; an apartment community totaling 100 units also in Sunnyvale, California; and an apartment community totaling 38 units in Alameda, California, according to Adam Levin, Executive Managing Director of Levin Johnston.

Iris Park Apartments & Iris Garden Apartments
611-641 Iris Avenue, Sunnyvale, CA

 

“After selling a 170-unit multifamily property earlier this year, our client was seeking to trade into multiple assets in order to diversify their portfolio and take advantage of 1031 exchange benefits,” says Levin.

Islander Apartments, 1707 Shore Line Drive
 Alameda, CA

“Based on our knowledge of the market and the available properties, as well as close relationships with the buyer and sellers, we were able to move quickly and seamlessly to secured and finalize the acquisitions.”

 Robert Johnston, Senior Managing Director of Levin Johnston, adds: “We strategically identified three opportunities within the local area that offered the buyer diversification in size and product type, including a self-storage facility and a total of 138 multifamily units.”

Adam Levin

 Johnston notes that both the apartment communities and the self-storage facility, which is well located in a residential area, will benefit from the uptick in multifamily demand in the Bay Area as the market recovers from the pandemic.

 “Recent data from Moody’s indicates that the low points are in the rear-view mirror and rents in dense urban regions including the Bay Area are on track to return to pre-pandemic levels by next year,” continues Levin.

  “We strategically advise all of our clients based on individual portfolio and investment goals, and continue see robust investor confidence and strong opportunity in the Bay Area, as well as other geographies.”

 The three properties acquired include:

 A 65,805 square-foot, 508-unit self-storage facility operated by The Storage Spot located at 220 W Ahwanee Avenue in Sunnyvale, California. The asset was purchased for a total consideration of $18 million.

 Robert Johnston

Iris Park Apartments & Iris Garden Apartments, an apartment complex totaling 100 units situated on 2.8 acres at 611-641 Iris Avenue in Sunnyvale, California. The asset was acquired for a total consideration of $36 million.

Islander Apartments, a 38-unit, 31,374 square-foot apartment community located at 1707 Shore Line Drive in Alameda, California. The asset was purchased for a total consideration $14.25 million.

 For more information about Levin Johnston’s $100 million in available properties, please visit www.levinjohnston.com

 .  Levin Johnston Group is part of Marcus & Millichap’s Palo Alto office. More information is available at levinjohnston.com.

Contact:

 Elisabeth Manville  

Brower Group

(949) 438-6262

emanville@brower-group.com