Marcus & Millichap closed the sale and financing of Harrison Street Apartments, a 22-unit multifamily property located at 150 Harrison Ave. in Redwood City. The sale price was $11,700,000. Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, arranged $6 million in acquisition financing.
Investment specialists Adam Richardson, Adam Levin and Robert Johnston, all based in the firm’s Palo Alto office, facilitated the sale. David Campbell, also based in the firm’s Palo Alto office, secured a 30-year loan on behalf of the buyer.
“We’re proud to have helped our client secure long-term financing for Harrison Street Apartments, supporting their investment in a vibrant and accessible part of Redwood City,” said Campbell. “This deal shows ongoing interest in Bay Area multifamily properties and our focus on providing customized financing.”
The property offers a mix of one- and two-bedroom units and is next to Downtown Redwood City, providing convenient access to San Francisco and San Jose.
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
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Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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