ALAMEDA, CA-Arroyo & Company has acted as advisor to a private partnership in the disposition of Marina View Towers, an 84-unit mid-rise waterfront multifamily community located in the central Bay Area. The property was acquired by Carmel Partners of San Francisco.

The property comprises 84 total units in a single mid-rise structure which, at eight stories, is the tallest apartment building in Alameda, with panoramic views of Downtown Oakland, the Oakland Hills, San Francisco, the Bay Bridge, Jack London Square, and two active marinas. Terms of the transaction were not disclosed.

Originally constructed in 1965, the property includes single-loaded one, two, and three bedroom units that average approximately 881 rentable square feet. Property amenities include floor to ceiling windows and full-length balconies in all units, city and water views from most units, and a common area fitness center.

Marina View Towers is located less than three miles from Downtown Oakland and the Lake Merritt BART Station.

The seller was represented in the transaction by brokers David Silver and Nathan Blair of Arroyo & Company, and by attorney William McClure of the Menlo Park-based firm Jorgenson, Siegel, McClure & Flegel LLP. Carmel Partners acted on its own behalf.

Since 2003 the Arroyo & Company California Multihousing Group has participated in the sale of more than 10,000 multifamily units on a total volume of more than $1.6 Billion. Specializing in the sale of conventional and affordable multifamily housing, retail, and commercial properties, Arroyo & Company provides a wide range of commercial real estate brokerage services for private and institutional investors throughout California and the West.