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Alain Pinel Realtors Investment Group has closed on the final building in an 8-building portfolio totaling $43 million the largest apartment portfolio sale in the City this year.
Saratoga, CA (PRWEB) June 26, 2014
Alain Pinel Realtors (APR) Investment Group has closed on the final building in an 8-building portfolio totaling $43 million the largest apartment portfolio sale in the City this year. The transaction, put together by APR Investment Group Managing Director Mark Bonn and Senior Sales Associate Mirella Webb, has been in the works since January. The recent sale continues the APR Investment Groups dominance as the #1 apartment sales group in San Francisco, a title they have held for the past five years.
The portfolio, offered by Urban Green Investments, in partnership with Laramar Group, included buildings that range from 14 to 61 units, mostly around Downtown. The buildings, including two that were mixed-use, totaled over 238 units. In a sign of the strength of the San Francisco market, the firm received 45 offers, both on individual buildings and the portfolio as a whole. After review, the portfolio was sold to a single buyer, Veritas Investments.
This portfolio continues APR Investment Groups impressive positioning in the San Francisco market, said APR Executive Vice President Rainy Hake. For a local firm that only launched six years ago, they have quickly risen to prominence as a local powerhouse that garners national attention.
Additional notable closings by APR Investment Group includes 1035 Pine Street. The 34-unit, concrete and steel Downtown building, was sold for $12.7 million earlier this month. This deal also was coordinated by Bonn and Webb.
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About the Alain Pinel Realtors Investment Group
The Alain Pinel Realtors (APR) Investment Group was founded in 2008 to serve the commercial investment interests of APR, the largest privately-owned and independent residential real estate company in California. APR is the fifth largest residential real estate firm in the United States based on its closed sales volume. The firm has 1,400 agents in 32 offices throughout Northern California. Celebrating almost a quarter century in Bay Area real estate, APR was founded in 1990 by CEO and President Paul L. Hulme, and is based in Saratoga, California. Visit us at apr.com, China.APR.com and connect with us on facebook.com/AlainPinelRealtors, @AlainPinel.
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