Alain Pinel Realtors (APR) Investment Group has closed on the final building in an 8-building portfolio totaling $43 million – the largest apartment portfolio sale in the City this year. The transaction, put together by APR Investment Group Managing Director Mark Bonn and Senior Sales Associate Mirella Webb, has been in the works since January. The recent sale continues the APR Investment Group’s dominance as the #1 apartment sales group in San Francisco, a title they have held for the past five years.
The portfolio, offered by Urban Green Investments, in partnership with Laramar Group, included buildings that range from 14 to 61 units, mostly around Downtown. The buildings, including two that were mixed-use, totaled over 238 units. In a sign of the strength of the San Francisco market, the firm received 45 offers, both on individual buildings and the portfolio as a whole. After review, the portfolio was sold to a single buyer, Veritas Investments.
“This portfolio continues APR Investment Group’s impressive positioning in the San Francisco market,” said APR Executive Vice President Rainy Hake. “For a local firm that only launched six years ago, they have quickly risen to prominence as a local powerhouse that garners national attention.”
Additional notable closings by APR Investment Group includes 1035 Pine Street. The 34-unit, concrete and steel Downtown building, was sold for $12.7 million earlier this month. This deal also was coordinated by Bonn and Webb.
See all 8-buildings from the transaction.
APR in the News• Notable Listings / Sales