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.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
