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.
The iconic Mill Valley estate known as “Eagle Cliff” was sold last month by Bernard Link of Alain Pinel Realtors Mill Valley, and yielded the highest historic price per square foot for any luxury single-family residential home sale in Mill Valley. Sold for $5,200,000, the property obtained roughly $1,260 per square foot. A renovated 120 year old hunting lodge, 7 Heuters Lane is a classic marriage of Mill Valley history and modern luxury. The estate is a re-imagined landmark as well-known for its unique design as its stunning hillside vistas.
Built in 1895 as a hunting lodge for iconic San Francisco industrialist, Ernest L. Heuter, Eagle Cliff caries an intriguing history and unique character. After its construction, the estate quickly became an architectural showpiece due to its authentic woodcarving and craftsmanship, tower, cathedral ceilings, and wrap-around balconies.
Previous owners, Five Mile Partners, spent the past two years carefully designing and re-constructing Eagle Cliff to meet the needs of today’s homeowner while respecting and retaining many of the unique characteristics of the original structure. Extensively rebuilt from the foundation up, the now-complete 4,000+/- square foot home features a modern barn-style feel with the same large, open great room of its past, 16 foot kitchen ceilings, and a wall of folding doors that open to an expansive deck and lawn area. There are 4 bedrooms and 3.5 baths in the main house, with a free standing guest house. A private pathway winds past redwoods and through the .5+ acre parcel to provide an easy walking route to downtown Mill Valley.
For more information visit www.7heuterslane.com.
Where: 1200 Saint Charles Street in Alameda (listing | virtual tour)
Alain Pinel Realtors (APR) announced at the end of January that it had closed escrow on a $3.4 million home, setting the record for the highest recorded sale of a single family home ever in the City of Alameda. 1200 Saint Charles Street, in the heart of the Gold Coast, was listed by David Gunderman and Andrew Raskopf of the APR Oakland Hills – Montclair Office.
The property made a splash last December when it was listed at $3.3 million, becoming the highest priced listing ever on the market in the City of Alameda. The four-level Colonial revival features 6,000-7,000+/- square feet of living space and sits on around three-quarters of an acre. Built in 1898 by the celebrated Bay Area Victorian architects, Marcuse and Remmel, the property has been thoughtfully designed and updated by the seller, a notable interior designer.
The estate was on the market for less than two weeks before being sold. Gunderman, who along with Raskopf also represented the buyers in the transaction, thinks it is indicative of larger trends in the City of Alameda. “Alameda’s luxury market is coming out of the shadow of Piedmont,” Gunderman explained. “More and more, people want to be part of this community, and with the limited luxury inventory, supply and demand economics are aggressively kicking in.”
The closing builds on APR’s rapidly growing market share in Alameda from 2013, when the firm nearly doubled their closed sides and more than doubled their closed sales volume over 2012. “The luxury branding of Alain Pinel Realtors, coupled with the marketing genius of agents like David and Andrew, has really resonated in Alameda,” noted Phil Weingrow, Vice President and Manager of the APR Montclair office.
See more photos of 1200 Saint Charles Street here.
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