DivcoWest Partnership Acquires Class A San Francisco Multifamily
DivcoWest has acquired a Class A, 137-unit multifamily building located at 830 Eddy in San Francisco’s Cathedral Hill neighborhood. The building was acquired in a partnership with JB Housing Ventures. Although DivcoWest did not disclose the seller or purchase price, the San Francisco Business Times reported that Mitsui Fudosan sold 830 Eddy for $43.3 million.
“This acquisition highlights the strength of DivcoWest’s residential relationships and ability to execute off-market transactions in highly competitive markets,” said Richie DeBeikes, managing director, head of Residential & Southern California Investments. “We are firm believers in the resilience of San Francisco’s stability and growth and are committed to building long-term value for both our investors and the communities where we operate.”
Completed in 2021, the 12-story building is proximate to a National Historic Landmark District and San Francisco’s arts and culture scene. It is located near major public transit as well as the Golden Gate and Bay Bridges.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout