apartments – North Bay Business Journal - North San Francisco Bay Area, Sonoma, Marin, Napa counties

Marin County apartments: After two years of decline, rents rise as market stabilizes

March 14th, 2011

The good news for Marin County landlords is that after two years of declines, asking rents moved up 2 percent by the end of 2010. Rents are expected to continue climbing this year by another 2 percent as the economy recovers and the local distressed single family market is producing more renters.
Commercial Real Estate: Petaluma apartments attract $68 million

February 21st, 2011

A 492-unit south Petaluma apartment complex, one of the largest in Sonoma County, sold for $68 million to a Southern California institutional investor, 15 months after it was purchased for $52 million. … A Sacramento-based real estate investor acquired a long-vacant former Yardbirds store in Vacaville with plans to upgrade the 45,000-square-foot building with 8,500 square feet of covered garden area and 6,000 square feet of yard space in the Browns Valley Marketplace shopping center. … Santa Rosa medical device startup Sapheon Inc. found a place to base development of a less-painful treatment for varicose veins. … Jim and Jennifer Jensen together with Lance and Dana Stafford, the third generation of ownership in Napa-based architectural ironworks shop Jensen’s Ornamental Inc., purchased a 6,350-square-foot warehouse at 561 California Blvd. in Napa from Sue Branson on Jan. 31 for $879,000. … San Rafael-based landscaping supplies retailer Watersavers Irrigation Inc. on Feb. 1 expanded and relocated its Petaluma store to 840 Perry Lane, a 10,000-square-foot industrial building that was vacant after it was completed in 2007, according to Keegan & Coppin agent Nathan Ballard.
Petaluma apartment complex sells for $68 million

February 14th, 2011

PETALUMA — A nearly 500-apartment complex in south Petaluma, one of the largest in Sonoma County, sold for $68 million to a Southern California institutional investor, 15 months after it was purchased from the builder for $52 million.
Commercial Real Estate: Apartment investment market improves

November 29th, 2010

The multifamily housing investment market has significantly improved from 2009 in terms of transactions closed and purchase prices.
S.F. multifamily investor acquires 162-unit Napa apartments for $14 million

September 14th, 2010

NAPA — A San Francisco-based multifamily property investor acquired the 162-unit Napa Garden Apartments complex in west Napa in a deal valued at $14.8 million.
Mendoza lays out plan for $82 million in real estate debt

March 29th, 2010

PETALUMA – Genora “George” Mendoza, an investor in more than $100 million in mostly North Bay and Bay Area residential income properties, is emerging from U.S. Bankruptcy Court protection with a confirmed reorganization plan to pay off $82.2 million in real estate loans, property taxes and other debts over three to five years.
Marin County apartments: Savvy investors move in to snap up properties

March 15th, 2010

The Marin County apartment market started strong in the first quarter of 2010 on the heels of an uptick in activity that began in the summer of 2009. Real estate investors sitting on the side lines in the first half of last year moved back in to the market to scoop up distressed apartment properties in good locations.
Sonoma County apartments: 2009 ‘swallowed’ the market; but 2010 looks better

March 15th, 2010

While most owners and managers of apartment property in Sonoma County probably aren’t celebrating yet, things seem to be on a reasonably healthy track.
Napa-Solano apartments: Rent incentives common as cap rates show improvement

March 15th, 2010

Assuming that historical indicators hold true, the recession is over, we are told, and the economy is starting to rebound at some level.
Petaluma apartment property sells for $52M

October 26th, 2009

PETALUMA — The 492-unit Lakeville Resort apartment complex on Lakeview Circle sold for $52 million, making it the largest such sale in Sonoma County this year.
Apartment occupancy mixed as rents dip

October 26th, 2009

NOVATO — Average advertised rent for apartments in Marin, Napa and Sonoma counties in the third quarter dipped to the lowest level since the end of 2007, yet average North Bay rents have not declined nearly as much as those in Northern California as a whole, according to estimates from Novato-based multifamily property market analyst RealFacts.
Rents fall as ‘shadow’ market grows

July 13th, 2009

NORTH BAY – Rising unemployment together with a struggling economy and a large number of foreclosed homes are driving down rents for apartments and income homes.