redIQ Deal Highlight: Ascenda Capital Acquires Metro 77 & 85 Apartments and the Andina Apartments
redIQ Deal Highlight: Ascenda Capital Acquires Metro 77 & 85 Apartments and the Andina Apartments
redIQ would like to congratulate the team at Ascenda Capital for finalizing the acquisition of Metro 77 & 85 Apartments in San Leandro and the Andina Apartments in the San Francisco Bay Area for $86.5 million. The two multifamily communities were purchased from Trion Properties in deals brokered by Marcus & Millichap and Berkadia Institutional Services. Metro 77 & 85 Apartments were last sold in 2017 for $36 million. Andina Apartments were last sold in 2019 for $28 million.
Property values in the San Francisco bay area continue to rise as demand increases with the booming tech industry. Other recent transactions in the area include Waterton’s acquisition of eaves Diamond Heights in San Francisco and Vista Investment Group’s purchase of Northridge Apartments in Pleasant Hill.
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For over ten years, redIQ has provided a comprehensive and dependable underwriting service for multifamily acquisitions teams, brokers, and lenders focused on mid and large-size assets. redIQ's solutions lead the industry and support the full underwriting process, from standardizing financial documents to producing a final valuation. With our system, analysis takes less time and decision makers can move forward with greater confidence. redIQ users can close more deals, produce better returns, and spend less time worrying about downside.
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