Apartment Advisory Team's Results
"I want to thank both of you for your successful sale in 2007 of my two apartment assets in Yuba City; Bridge Street Commons 166 units and River Oaks 148 units. Your market knowledge, ability to expose the investment opportunity to a wide number of qualified buyers, negotiating skills and management of the due diligence and escrow process were exceptional. I have interacted with many commercial brokers during my long career as a developer and investor and place your skills among the best in the industry. To that point, I would happily recommend you and your Apartment Advisory Team to any apartment owner seeking to obtain both professional representation and optimal results."
 Bradford Pointe Apartments Sacramento, CA |
In April 2010 we sold 72 unit Bradford Pointe Apartments for $2,900,000. The price was derived by a rather unique marketing plan wherein the Short Sale Seller and Lender wanted to obtain a Contingency Free Offer including but not limited to Title Review, Physical Inspection, Financial Feasibility and Financing. This was an All Cash deal where the buyer took on significant risk. During the escrow, water damage occurred due to faulty window upgrade installation and the Buyer was credited $300,000 which is not reflected in the price. The Stabilized Capitalization rate and GRM at the time of the sale were 8.62% and 4.65 respectively. |
 Patio Apartments Sacramento, CA |
In December 2009 we sold 26 unit Patio Apartments. This was an REO sale for $400,000; $15,384/Unit. We represented both they buyer and the seller (the Bank) in this transaction. |
 Harrison Court North Highlands, CA |
In June 2009 we sold 60 Unit Harrison Court Apartments. We brought in 7 offers over the course of 5 months for the owners to consider. After a 7 month escrow, we closed on June 30, 2009 for $3,400,000; $56,666/Unit; $68.37/SF; 6.3% Cap. We represented both they buyer and the seller in this transaction. |
 River Valley West Yuba City, CA |
In May 2008 we sold River Valley West, a 48 Unit luxury apartment home community in Yuba City. Newly constructed in 2006, it is located in a single family neighborhood that attracts the most affluent tenants of Yuba City and Sutter County seeking exceptional quality housing. River Valley West sold for $4,700,000 or $97,917 per unit. We represented the seller in this transaction. |
 River Oaks Yuba City, CA |
In November 2007 we set the HIGHEST PRICE PER UNIT record once again, beating our previous record in Yuba City. The 148 unit Class A property, River Oaks, sold for $18,025,000 or $121,791 per unit. During our Exclusive Listing period, the occupancy fell dramatically causing the concern of prospective buyers and potential lenders. Ultimately, we located a very suitable and qualified buyer with a long-term hold strategy and closed with a new 65% LTV fixed rate loan. The TRI Apartment Advisory Team represented both Buyer and Seller in this transaction. |
 Windsor Court Turlock, CA |
October 2007 took us south to Turlock, to sell Windsor Court, a 193 unit complex which sold for $16,200,000 or $83,938 per unit. This deal, like the transaction we closed in Chico in April, was also a value added deal. The buyers set out to re-position the asset to gain full financial benefit; the 1st step was the fresh new name ~ Boardwalk Apartments. |
 Stoneridge Roseville, CA |
In September 2007 we sold the #1 Rated Apartment Community in Northern California, 230 Unit Stoneridge Apartments in Roseville. We set a record once again, the property sold for $40,500,000 or $176,087 per unit, the HIGHEST PRICE PER UNIT in the Sacramento MSA. Built in 2005, this is a Class A, award winning asset that will show pride of ownership for many years to come. |
 Country Village Carmichael, CA |
At the end of May 2007 we represented the seller of Country Village, a 44 unit apartment in Carmichael. It sold for $3,775,000 or $85,795 per unit. With quintessential Pride of Ownership, this asset experienced high cash flow and consistently high occupancy, a property any buyer would be happy to acquire. |
 Transpacific Gardens Chico, CA |
In April 2007 we traveled further north and represented both the buyer and seller on Transpacific Gardens, a 106 unit apartment complex in Chico which sold for $6,100,000. This property had significant deferred maintenance, was under-utilized and as a result made this an attractive value-added deal. The buyer made capital improvements and re-positioned the property to realize its maximum potential. |
 Bridge Street Commons Yuba City, CA |
In January 2007 we closed Yuba City's Premier Property, Bridge Street Commons. The 166 unit luxury apartment complex sold for $16,250,000 and we set the record for the HIGHEST PRICE PER UNIT sale in Yuba City at $97,892. We represented both the buyer and the seller on this transaction. |
 Marconi Woods Sacramento, CA |
In December 2006 we closed Marconi Woods. The 64 unit apartment complex sold for $5,000,000 or $78,125 per unit. We represented the seller on his portfolio sale transaction. |
 Courtside Sacramento, CA |
In December 2006 we closed Courtside. The 87 unit apartment complex sold for $5,600,000 or $64,368 per unit. We represented the seller on his portfolio sale transaction. |
 Orangevale Farms Orangevale, CA |
In August 2006 we closed Orangevale Farms. The 49 unit apartment complex sold for $3,075,000 or $62,755 per unit. We represented the seller on this transaction. |
 Bonanza Suites Yuba City, CA |
In February 2006 we closed Bonanza Suites Apartments. The 54 unit apartment complex sold for $3,240,000 or $60,00 per unit. We represented the seller on this transaction. |
 Rivergate Village Sacramento, CA |
In January 2006 we closed Rivergate Village Apartments. The 140 unit apartment complex sold for $12,300,000 or $87,857 per unit. We represented the seller on this transaction. |
 Victoria Apartments Yuba City, CA |
In September 2005 we closed Victoria Apartments. The 52 unit apartment complex sold for $4,200,000 or $80,769 per unit. We represented the seller on this transaction. |
"I want to thank both of you for your successful sale in 2007 of my two apartment assets in Yuba City; Bridge Street Commons 166 units and River Oaks 148 units. Your market knowledge, ability to expose the investment opportunity to a wide number of qualified buyers, negotiating skills and management of the due diligence and escrow process were exceptional. I have interacted with many commercial brokers during my long career as a developer and investor and place your skills among the best in the industry. To that point, I would happily recommend you and your Apartment Advisory Team to any apartment owner seeking to obtain both professional representation and optimal results."
~Sincerely, Harold M. Eastridge
