FOR IMMEDIATE RELEASE

Contacts: Brandon Geraldo (510) 433-5807 brandon.geraldo@colliers.com

Ryan Rodriguez (510) 433-5816 ryan.rodriguez@colliers.com

 

East Bay Multifamily Team of Colliers International sells 42-unit building

near Lake Merritt in Oakland

 

Oakland—February 4, 2015—Brandon Geraldo and Ryan Rodriguez of the Investment Services Group with Colliers

International in Oakland recently closed one of the largest multifamily transactions in Oakland over the last twelve

months. Vaughn Management, a family operated syndication business has acquired 350 Newton Avenue, a 42-unit

community two blocks from Lake Merritt in Oakland, California. The trophy asset generated significant interest from

private capital groups as well as several institutional buyers. “350 Newton is a complimentary asset to our existing

Oakland portfolio and leverages our knowledge and human capital to provide quality returns to our partners”, said

Brad Vaughn, President of Vaughn Management.

 

The 42-unit apartment community, located just two blocks from Lake Merritt, sold for Seven Million Six Hundred

and Fifty Thousand Dollars (7,650,000.00) – Two Hundred Thousand Dollars ($200,000.00) over the asking price.

The Seller, SB Pacific Group, acquired the asset in June of 2012 for $4,900,000 – an appreciation of 36% in two and

a half years.

 

The asset, which offers a mix of one and two-bedroom units, thirty-two private garages, a swimming pool, on-site

laundry facility and BBQ area provides several amenities not commonly found in the Lake Merritt area. The demand

for well-located multifamily assets in core East Bay locations is extremely high”, said Brandon Geraldo. “Limited

inventory coupled with high demand is driving multifamily transaction volume to pre-recession levels with no end in

sight.”

 

About Vaughn Management

Vaughn Management is a family operated syndication business with multi-family and commercial assets

throughout California and Oregon. We work with family offices and high net worth individuals across the country

to identify and acquire assets that typically require value add capital as well as operational improvement. We

provide significant equity capital alongside partners and have been active for over 30 years.

 

About SB Pacific Group

SB Pacific Group is a real estate development company with a diverse portfolio of properties in high-growth infill

submarkets. We rapidly develop undervalued properties into vibrant, high-value real estate assets, to achieve

maximum returns. We produce exceptional returns through renovation, improvement, tight cost controls and

professional management that develop properties beyond initial values.

We have over 20 years of experience in acquisition, development and management of commercial, residential,

mixed-use and specialty product types. With a growing portfolio of investments, the company has steadily

expanded and transformed in the two decades since it was established in 1986. The founding partners first

produced quality residential rehabilitation and remodels in the San Francisco Bay Area. Moving on to develop

small multi-family rental properties in California and Texas, the company is experienced in repositioning and

redeveloping under-managed and under-developed properties. Today, the firm successfully handles large

investments and luxury redevelopment projects in multiple locales.

 

About Colliers International

Colliers International is a global leader in commercial real estate services, with over 15,800 professionals operating

out of more than 485 offices in 63 countries. A subsidiary of FirstService Corporation, Colliers International delivers a

full range of services to real estate users, owners and investors worldwide, including global corporate solutions,

brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and

appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company

ranked Colliers International as the second-most recognized commercial real estate firm in the world.

 

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