“As one of the largest institutional properties in this affluent submarket, Carlmont Woods will offer best-in-class amenities and services compared to many of the smaller competitors in the immediate area,” said GA’s Peter Staver.

San Francisco, CA (PRWEB) August 29, 2013

Grosvenor Americas (GA) has acquired Carlmont Woods Apartments in Belmont, CA, an affluent suburb within the San Francisco Bay Peninsula. This 11.5-acre garden apartment community with 195 studio and one-bedroom apartments was built in 1971 and enjoys an excellent location just 13 miles south of the San Francisco International Airport and only five minutes from both US 101 and I-280, the two major north-south freeways leading to downtown San Francisco, Palo Alto, Mountain View, and San Jose.

As part of the San Mateo submarket, Carlmont Woods is convenient to major high-tech employment centers including Oracle, Electronic Arts, Genentech, Sony, Visa, Gilead Sciences, and Life Technologies. While easily accessible to freeways and public transportation, Carlton Woods offers a low-density, quiet living environment within easy reach of extensive parkland, trails, and other outdoor recreational amenities.

GA plans to renovate the community’s apartment interiors and common amenities to a modern standard.

“This is Grosvenor’s first apartment acquisition in the Bay Area,” remarked James Delmotte, Senior Vice President, Investment, Grosvenor Americas. “We hope to continue to grow our multifamily portfolio in the future.”

“This represents a unique opportunity to acquire a low-density asset in the Bay Area,” added Peter Staver, Investments, Grosvenor Americas. “As one of the largest institutional properties in this affluent submarket, Carlmont Woods will offer best-in-class amenities and services compared to many of the smaller competitors in the immediate area.”

The property was marketed by Kara Wiard, Director at Eastdil Secured.

With the Carlmont Woods acquisition, GA now owns (wholly or in joint venture partnerships) almost 2,400 multifamily rental units in the US and Canada. The US holdings are focused on the San Francisco Bay and Puget Sound areas.

Grosvenor is a privately-owned property group, active in some of the world’s most dynamic cities with 19 offices in 12 countries and assets in a total of 17 countries. The Group operates and invests in three different business areas; direct proprietary investment in real estate through our Operating Companies in Britain Ireland, the Americas and Asia Pacific; indirect proprietary investment in real estate managed by others, which is the responsibility of the holding company; and our international fund management Operating Company – Grosvenor Fund Management – which manages capital on behalf of investors. As of December 31, 2012, the Group had total assets under management of US$19.9bn. Unusually for a private company, Grosvenor publishes a full Annual Report Accounts, available at: http://www.grosvenor.com.

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As part of the San Mateo submarket, Carlmont Woods is convenient to major high-tech employment centers including Oracle, Electronic Arts, Genentech, Sony, Visa, Gilead Sciences, and Life Technologies. While easily accessible to freeways and public transportation, Carlton Woods offers a low-density, quiet living environment within easy reach of extensive parkland, trails, and other outdoor recreational amenities.

GA plans to renovate the community’s apartment interiors and common amenities to a modern standard.

 “This is Grosvenor’s first apartment acquisition in the Bay Area,” remarked James Delmotte, Senior Vice President, Investment, Grosvenor Americas. “We hope to continue to grow our multifamily portfolio in the future.”

“This represents a unique opportunity to acquire a low-density asset in the Bay Area,” added Peter Staver, Investments, Grosvenor Americas. “As one of the largest institutional properties in this affluent submarket, Carlmont Woods will offer best-in-class amenities and services compared to many of the smaller competitors in the immediate area.”

The property was marketed by Kara Wiard, Director at Eastdil Secured.

With the Carlmont Woods acquisition, GA now owns (wholly or in joint venture partnerships) almost 2,400 multifamily rental units in the US and Canada. The US holdings are focused on the San Francisco Bay and Puget Sound areas.

Grosvenor is a privately-owned property group, active in some of the world’s most dynamic cities with 19 offices in 12 countries and assets in a total of 17 countries. The Group operates and invests in three different business areas; direct proprietary investment in real estate through our Operating Companies in Britain Ireland, the Americas and Asia Pacific; indirect proprietary investment in real estate managed by others, which is the responsibility of the holding company; and our international fund management Operating Company – Grosvenor Fund Management – which manages capital on behalf of investors. As of December 31, 2012, the Group had total assets under management of US$19.9bn. Unusually for a private company, Grosvenor publishes a full Annual Report Accounts, available at: www.grosvenor.com.
 

Article source: http://nreionline.com/nreiwire/press-release-grosvenor-americas-acquires-195-unit-san-francisco-bay-area-apartment-communi

San Francisco, CA (PRWEB) August 29, 2013

Grosvenor Americas (GA) has acquired Carlmont Woods Apartments in Belmont, CA, an affluent suburb within the San Francisco Bay Peninsula. This 11.5-acre garden apartment community with 195 studio and one-bedroom apartments was built in 1971 and enjoys an excellent location just 13 miles south of the San Francisco International Airport and only five minutes from both US 101 and I-280, the two major north-south freeways leading to downtown San Francisco, Palo Alto, Mountain View, and San Jose.

As part of the San Mateo submarket, Carlmont Woods is convenient to major high-tech employment centers including Oracle, Electronic Arts, Genentech, Sony, Visa, Gilead Sciences, and Life Technologies. While easily accessible to freeways and public transportation, Carlton Woods offers a low-density, quiet living environment within easy reach of extensive parkland, trails, and other outdoor recreational amenities.

GA plans to renovate the community’s apartment interiors and common amenities to a modern standard.

“This is Grosvenor’s first apartment acquisition in the Bay Area,” remarked James Delmotte, Senior Vice President, Investment, Grosvenor Americas. “We hope to continue to grow our multifamily portfolio in the future.”

“This represents a unique opportunity to acquire a low-density asset in the Bay Area,” added Peter Staver, Investments, Grosvenor Americas. “As one of the largest institutional properties in this affluent submarket, Carlmont Woods will offer best-in-class amenities and services compared to many of the smaller competitors in the immediate area.”

The property was marketed by Kara Wiard, Director at Eastdil Secured.

With the Carlmont Woods acquisition, GA now owns (wholly or in joint venture partnerships) almost 2,400 multifamily rental units in the US and Canada. The US holdings are focused on the San Francisco Bay and Puget Sound areas.

Grosvenor is a privately-owned property group, active in some of the world’s most dynamic cities with 19 offices in 12 countries and assets in a total of 17 countries. The Group operates and invests in three different business areas; direct proprietary investment in real estate through our Operating Companies in Britain Ireland, the Americas and Asia Pacific; indirect proprietary investment in real estate managed by others, which is the responsibility of the holding company; and our international fund management Operating Company – Grosvenor Fund Management – which manages capital on behalf of investors. As of December 31, 2012, the Group had total assets under management of US$19.9bn. Unusually for a private company, Grosvenor publishes a full Annual Report Accounts, available at: http://www.grosvenor.com.

For the original version on PRWeb visit: http://www.prweb.com/releases/2013/8/prweb11072608.htm

Article source: http://www.virtual-strategy.com/2013/08/29/grosvenor-americas-acquires-195-unit-san-francisco-bay-area-apartment-community

MILL CREEK, Wash., Sept. 12, 2011 /PRNewswire via COMTEX/ –
Prometheus Real Estate Group, Inc. has purchased Surrey Park apartments in Mill Creek, WA in a $5.1 million transaction. The acquisition was purchased all cash. Located at the corner of 156th Street SE and Mill Creek Boulevard, the 46 unit community is an excellent mix of well-designed one and two bedroom floorplans. Built in 1991, the property is well maintained with limited deferred maintenance. The business plan is to reposition the asset through an aesthetic renovation that will reposition the property to compete with larger institutional sized properties in the immediate neighborhood. The property is walking distance from the popular Mill Creek Town Center and 3 miles northeast of the Interstate 5 Interstate 405 interchange, providing for access to job centers along both sides of Lake Washington. Mill Creek is 16 miles north of Bellevue and 20 miles north of Seattle. Nearby employment centers are the biotech firms and the planned Google campus 3 miles south in Bothell and Boeing’s Everett campus five miles northwest. The brokers on the transaction were Philip Assouad and Giovanni Napoli of Kidder Mathews. This acquisition brings Prometheus’ Pacific Northwest portfolio to 18 properties totaling 4,277 units.

About Prometheus

Since its inception in 1965, Prometheus Real Estate Group has specialized in the development and management of high quality residential properties throughout the Western United States. Today, they are the largest private owner of multi-family properties in the San Francisco Bay area with a growing portfolio which includes over 18,000 class A apartments in Seattle, Portland, the San Francisco Bay Area and Los Angeles. Recognition includes over 75 awards since the firm’s inception including 2010 MHN Best Property Management Company of the Year.

For more information visit:
http://prometheusreg.com , Facebook/PrometheusAptsTwitter/PrometheusAptsLinkedIn/Companies/Prometheus-Real-Estate-Group

SOURCE Prometheus Real Estate Group, Inc.

Copyright (C) 2011 PR Newswire. All rights reserved

Article source: http://www.marketwatch.com/story/prometheus-real-estate-group-adds-another-asset-to-seattle-portfolio-2011-09-12

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DALLAS, May 17, 2011 /PRNewswire/ — Behringer Harvard announced today the sale of Waterford Place, a 390-unit multifamily community at 4800 Tassajara Road in Dublin, California approximately 35 miles east of San Francisco. The buyer is an institutional investor.

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“At an asset level, the disposition of Waterford Place is a remarkably successful execution of our multifamily platform’s investment strategy,” said Mr. Mark Alfieri, Chief Operating Officer of Behringer Harvard Multifamily REIT I, Inc.

“Our real estate team identified Waterford Place as an institutional-quality asset that had the potential to provide attractive income as well as capital appreciation for our investors,” explained Mr. Alfieri. “We’re pleased that this demonstrates the effectiveness of our investment strategy and the value we can create in our multifamily portfolio.”

Behringer Harvard Multifamily REIT I, Inc. acquired Waterford Place in September 2009 through a joint venture with PGGM Private Real Estate Fund. Waterford Place is a high-quality, stabilized multifamily community located near the intersection of Interstates 580 and 680 in one of the most desirable cities in Alameda County. Residents are approximately one mile from the Dublin/Pleasanton BART station offering convenient light-rail service to Bay Area employment centers. In addition to proximity to major traffic arteries and public transportation, the community provides convenient access to shopping, restaurants and attractions favored by a young, educated workforce.

With the disposition of Waterford Place, the Behringer Harvard Multifamily REIT I, Inc. portfolio owns investments in 34 communities in 13 states comprising 9,538 apartment homes.

About Behringer Harvard

Behringer Harvard creates and manages global institutional-quality investment programs for individual and institutional investors through its real estate investment trusts, joint ventures and proprietary program structures. The company also offers strategic advisory, asset management and capital market solutions. Behringer Harvard has interests in or manages more than $11 billion in assets. For more information, contact our U.S. headquarters toll-free at 866.655.3600 or our European headquarters at 011 49 40 34 9999 90, or visit us online at behringerharvard.com.

This release contains forward-looking statements relating to the business and financial outlook of Behringer Harvard Multifamily REIT I, Inc. that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of the offering documents for the offering of shares of Behringer Harvard Multifamily REIT I, Inc. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

SOURCE Behringer Harvard

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