NEWS
Premier Apartment Advisors News
NEWS RELEASE
North Bay Luxury Rental Community Acquired by Major Apartment REIT
104-Unit Harvest Park Apartment Homes In Santa Rosa Sells For Over $22 Million
ALAMEDA, California. --Harvest Park Apartment Homes in Santa Rosa, California has been acquired by Essex Property Trust for $22,500,000 or $216,346 per unit. The Seller was Harvest Park, Inc., a private regional development company, which built the community in 2004. The transaction was brokered by Jay Cross, John H. Leyvas, Jr. and Richard Knutson of Premier Apartment Advisors. The Premier Team represented the Sellers and procured the Buyer.
Located in southeast Santa Rosa, Harvest Park is one of city’s finest rental communities, with an ideal blend of striking architectural style, quality construction, and resident amenities, including over-sized square footages and in-unit washer/dryer combos. The property enjoys panoramic views of the Sonoma hills, an adjacent planned community park and an abundance of nearby urban conveniences. There is direct commute access to San Francisco via Highway 101. Numerous recreational activities are nearby in the Sonoma Wine Country.
Essex Property Trust of Palo Alto, California is a fully integrated Real Estate Investment Trust (REIT) that acquires, develops, and manages apartment communities in highly desirable markets. The company has ownership interests in over 26,000 units and over 900 units in development. Executive Vice President Craig Zimmerman comments that “Harvest Park is our first acquisition in Sonoma County, a geographically appealing and growing residential market due to an extension of the San Francisco North Bay suburbs. We were attracted to Harvest Park’s quality design, construction and excellent location, as well as the long-term value of its recorded final condominium map.”
About Premier Apartment Advisors: John H. Leyvas, Jr. and Richard Knutson, CCIM are managing partners and owners of Premier Apartment Advisors, formerly Moison Investment Company - East Bay Group. Headquartered in Alameda with offices in San Jose, Premier is a boutique commercial brokerage and advisory group dedicated to the apartment investment community.
NEWS RELEASE
Water-Oriented San Francisco Peninsula Rental Community Acquired by Regional Investment Firm
24-Unit Mariner's Island Apartment Homes in San Mateo Sells For $4.6 Million
ALAMEDA, California. Mariner's Island Apartment Homes
in San Mateo, California has been acquired by a San
Francisco-based professional investment company for
$4,600,000 or $191,667 per unit. The Seller was a private
regional investor group. The transaction was brokered by
Jay Cross, Richard Knutson and Anthony Pappageorge of
Premier Apartment Advisors. The Premier Team represented
the Sellers and procured the Buyer.
Built in 1976, the Property has an exceptional San Mateo location midway between San Francisco and the Silicon Valley, with direct commute access to major employment centers via Highway 101. It is conveniently located on Mariner's Island just steps from picturesque Bay water and within walking distance to Bridgepointe Shopping Center, Class A office parks, restaurants and recreation. The Property was 100% occupied at the time of the sale. The San Mateo apartment market has strong fundamentals with 10% rent growth in the past year.
About Premier Apartment Advisors: John H. Leyvas, Jr. and Richard Knutson, CCIM are managing partners and owners of Premier Apartment Advisors, formerly Moison Investment Company - East Bay Group. Headquartered in Alameda with offices in San Jose, Premier is a boutique commercial brokerage and advisory group dedicated to the apartment investment community. For more details about the company or to schedule an interview with John Leyvas, please contact Charlotte Dennis at 510-995-3576.
NEWS RELEASE
Premier Apartment Advisors Principal Receives Industry Honors
ALAMEDA, California. John H. Leyvas, Jr., Managing Partner and Co-Owner of Premier Apartment Advisors, has been named Power Broker for 2006 for the second year in a row. The honor is bestowed by CoStar Group, the nation's leading provider of information services to the commercial real estate industry. Awarded to top dealmakers in regional markets across the country, the Power Brokers are a distinguished group of professionals who conducted billions in leasing and/or sales transactions. The Power Broker award recognizes individuals for their volume of sales in the calendar year 2006.
In 2006, Leyvas closed the sales of nearly 1600 multi-family units. Major transactions included the 299-unit Skyline Hills Apartments in Oakland (now Shadow Woods Condominiums), the 212-unit Hacienda Gardens Apartments in Pleasanton and a 148-unit portfolio of three pride-of-ownership condominium communities in Hayward.
Leyvas, a 20-year veteran in commercial real estate sales, is a member of the National Multi-Housing Council, the Tri-County Rental Roundtable and serves on the Boards of the San Leandro Boys & Girls Club and Eden Hospital Foundation. He lives in Pleasanton with his wife, Nicole, and their three children.
About Premier Apartment Advisors: John H. Leyvas, Jr. and Richard Knutson, CCIM are managing partners and owners of Premier Apartment Advisors, formerly Moison Investment Company - East Bay Group. Headquartered in Alameda with offices in San Jose, Premier is a boutique commercial brokerage and advisory group dedicated to the apartment investment community. For more details about the company or to schedule an interview with John Leyvas, please contact Charlotte Dennis at 510-995-3576.
The following transactions were closed by us under the name of Moison Investment Company-East Bay Group, prior to the name change to Premier Apartment Advisors:
NEWS RELEASE
August 16, 2006
212-Unit Pleasanton Garden Apartment Community Sold To Local Investor
SAN LEANDRO , California--Hacienda Commons Apartments in Pleasanton, California has been acquired by a local private investor, Bel Brook Apartments 2 LLC, for just under $42 million or around $200,000 per unit. The CAP rate was in the 4% range. The Seller was Hacienda Commons Apartments, LLC. The transaction was brokered by Richard Knutson, John H. Leyvas, Jr. and William Moison of Moison Investment Company, along with Matteson Realty Services of Redwood City.
Hacienda Commons is a superior garden-style community with in a prime suburban Pleasanton location with easy access to San Francisco via BART, the Silicon Valley via the ACE commuter train and is ideally situated near the crossroads of Highways 580 and 680. It is within walking distance of Hacienda Business Park, one of the largest corporate centers in the East Bay.
Hacienda Commons represents the ideal blend of resident amenities, including generous square footages, many fireplaces and washer/dryer combos. The lushly landscaped property has been meticulously maintained by the seller, has panoramic views of the surrounding hills and offers a special bonus of an adjacent community park. The Pleasanton market continues to rank high in desirability and location, while owners have seen a 5% rise in average rents in the Pleasanton since last June. According to Knutson and Leyvas, lead brokers, “we are seeing greater demand for quality income property due to the scarcity and costs of new development. We expect the transaction volume of income property deals to again dominate the multi-housing investment market.”