Cleveland investor gets 108-unit East Bay complex

San Francisco /
Apr.April 13, 2022 11:30 AM
CityMark’s Daniel Walsh (LinkedIn, Apartments.com)

A Cleveland-based real estate investment firm has made its first foray into the Bay Area multifamily market, picking up the 108-unit Hayden Martinez complex for $41.5.

The late-1980s-era five-acre Martinez complex acquired by CityMark Capital last sold in 2019 for just over $30 million, according to public records. The one- and two-bedroom units have been remodeled recently and common amenities include a pool, spa, clubhouse, dog park and onsite laundry. Formerly known as Haven Martinez, it is in the Vine Hill neighborhood of the Contra Costa city, close to onramps for I-680 and Route 4. Citymark’s statement noted that the commuter-friendly location was part of the appeal.

“We continue to see attractive multifamily investment opportunities and are excited about this opportunity for our investors,” said CEO Dan Walsh in a statement.

The seller was undisclosed.

The deal is CityMark Capital’s nineteenth multifamily purchase nationwide, including properties in Austin, Salt Lake City and Dallas in the fourth quarter of 2021. In 2019 it sold properties in Phoenix, Atlanta and Las Vegas for $138.8 million, or about half its of apartment fund assets at the time, according to Multihousing News.





    Related Articles

    arrow_forward_ios
    Bradley Blake and Brad Griggs with 115 Town and Country Drive (Blake Griggs Properties, Google Maps)
    Mixed bag of factors in $304 psf price on East Bay retail
    Mixed bag of factors in $304 psf price on East Bay retail
    From left: Veev's Amit Haller, Ami Avrahami, and Dafna Akiva with 2701 West Winton Ave
    Amazon offloads 507K sf lease in East Bay
    Amazon offloads 507K sf lease in East Bay
    From left: 1750 Sacramento St and 3100 Adeline St (Loopnet, Google Maps)
    Berkeley eyes BART stations with state housing mandate in mind
    Berkeley eyes BART stations with state housing mandate in mind
    Amit Goel and 22330 Main Street, Hayward (Google Maps, Hillsdale Investment Management Inc.)
    314 resi units approved for site of failed office project in Hayward
    314 resi units approved for site of failed office project in Hayward
    Residential Real Estate, San Francisco, Bay Area
    Silicon Valley’s return-to-office trend tied to jump in San Jose resi rents
    Silicon Valley’s return-to-office trend tied to jump in San Jose resi rents
    Prologis' Hamid Moghadam with 6345 Coliseum Way (Prologis, Google Maps)
    Supply-chain troubles assist Prologis on latest industrial lease in Oakland
    Supply-chain troubles assist Prologis on latest industrial lease in Oakland
    Terrence J Rose's Tom Siewert with the intersection of Armstrong and Earhart Street (LinkedIn, Google Maps)
    Local developer approved for 60K sf of spec industrial in Tri-Valley
    Local developer approved for 60K sf of spec industrial in Tri-Valley
    New builds in Oakland (iStock)
    Oakland entitlement, permit processes less than one-third as long as SF
    Oakland entitlement, permit processes less than one-third as long as SF
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...