SAN FRANCISCO-Fresh off a $1.7-billion portfolio sale, UDR Inc. has acquired the 193-unit Edgewater Luxury Apartments here for $115 million or $596,000 per unit, according to Marcus & Millichap Real Estate Investment Services, the listing brokerage firm. The apartment REIT acquired the year-old asset from developer Urban Housing Group. The capitalization rate on the transaction is in the mid-4% range, according to documents filed with the SEC.

Located at 355 Berry St., between Fifth and Sixth streets in the Mission Bay area, the 157,203-sf, six-story apartment building is situated on a 3.6-acre lot. The property is within walking distance of AT&T Park, the San Francisco Caltrain station and light rail stations.

Community amenities include a clubroom with a fireplace, television and kitchen for entertaining, a 24-hour fitness center, a fully equipped business center with conference room and Internet access, and outdoor courtyards with fireside lounges.

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