SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that a four building 249-unit portfolio has been sold to Neveo Mosser.
Although GlobeSt.com isn't able to report the pricing and further details of the transaction at this time, the addresses are 72 Gough, 825 Post, 1008 Larkin and 750 O' Farrell and the seller was Prado Group and the co-seller of the portfolio was Angelo Gordon.
Mark Bonn was the lead broker along with Mirella Webb and Stephen Pugh.
These properties were formally owned by the Lembi Family and sold to Prado Group by UBS. The sale price reflects a cap rate of approximately 5.2%.
According to a source close to the deal, the sale “is representative of how cap rates have been dropping even in the core downtown locations of the San Francisco.”
We will update this story as we learn more about the transaction.
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