The Alain Pinel Realtors (APR) Investment Group has done over $150 million in sales so far this year and is dominating the San Francisco apartment investment market. The group has been the #1 Apartment Brokerage in San Francisco for 3 years in a row, and is leading the San Francisco market again for a 4th year. Although the APR Investment Group is based locally and launched only four years ago, the group is not only #1 in their market, but has also achieved a national and international reach.
One of the group’s most notable closings of the year has been 899 Pine Street, San Francisco, an $82 million sale put together by Stephen Pugh, Mark Bonn, and Mirella Webb. This 200+ unit trophy asset on top of Nob Hill, across from Mark Hopkins hotel, is the largest sale the APR Investment Group has closed and one of the largest in the United States this year.
“Every major institutional owner of apartments looked at this deal across the United States,” said Bonn, Senior Director of the APR Investment Group. “We received over 15 offers, which came from both local and national investment groups.”
Additional notable closings of the year have been 2130 Post Street, San Francisco, a student housing facility in Lower Pacific Heights, owned by Dugoni School of Dentistry, which will be renovated and converted into luxury apartments, and the Prana Portfolio, a solid group of downtown apartment buildings, which had been owned by Prana group for approximately 10 years. The plan is for the new owner to upgrade the units as they become vacant.
“All three of these large sales had a much higher selling point than anticipated,” said Webb, APR Investment Group Senior Sales Associate. “Each one had multiple offers, over a dozen on most deals, and all sold above asking.”
These three deals were extraordinary, and along with them, the group has continued doing more typical 10-12 unit deals, ranging from $2-10 million.
“This has proved to be an exceptionally strong year,” said Pugh, Managing Director of the APR Investment Group. “These sales reflect the fact that the market is extremely hot and active right now, with sellers choosing this time to sell to benefit from the strong market.”
APR in the News• Notable Listings / Sales