Press Release

CBRE Arranges Sale Of 102-Unit Apartment Community In Concord, CA

09 1月 2018

CBRE Arranges Sale Of 102-Unit Apartment Community In Concord, CA

CBRE Capital Markets has announced the sale of the Lakes Apartments, a 102-unit multifamily community in Concord, California. The property, located at 1818, 1819 and 1850 Laguna Street, is within walking distance to downtown Concord and the Concord BART station and features lakefront views. The property sold for $21,000,000 to The Lakes Concord Property Owner LLC, a private investment group. CBRE’s East Bay Multifamily team, led by Keith Manson, Senior Vice President, along with Marc Ross, Senior Vice President from CBRE’s Sacramento office, brokered the transaction. 

“Tenants continue to migrate further east from the tight rental markets in San Francisco and Oakland to transit-oriented apartment communities in peripheral markets,” said Manson. “This contributes to continued rent growth in Concord and neighboring cities that have access to BART and major freeway arteries. These factors help drive values for investors looking to the East Bay for both value add and stabilized assets.” 

Keith Manson leads CBRE’s East Bay Multifamily Investment Properties group and serves the investment needs of both property owners and buyers specializing in the sale of multifamily properties and land for multifamily and mixed-use development. Over the last two years, the team has brokered over $225 million in multifamily and land transactions. 

CBRE’s Sacramento Multifamily team, a leader in the region, specializes in representing and advocating on behalf of multifamily sellers. The team works with private and institutional clients, having arranged the sale of over 100 apartment communities totaling in excess of $2 billion.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.