The 1,000-unit Hilltop Bayview Apartments has sold for $114.5 million,
according to Marcus
& Millichap Real Estate Investment Brokerage Co., which handled the
deal. The apartments were sold to Pennsylvania-based private real estate investment
company GMH
Associates Inc. The sales price equals about $113,600 per unit and the transaction was the
largest based on number of units in the Bay Area since July 1999, according to a
statement from Marcus & Millichap. The new owner plans to invest about $8
million in the property to reposition it in the Class A rental market.
Full Article: http://eastbay.bizjournals.com/eastbay/stories/2005/05/09/daily43.html?t=printable
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