Deal Tracker: City and South Bay Record Sales and Leases

Waterbend has 20 units set aside for affordable housing.

SAN FRANCISCO—Located at 5880 Third St., Waterbend is a 136-unit class-A apartment complex in the Bayview District. TruAmerica Multifamily , in partnership with MSD Capital LP , bolstered its 1,000-unit multifamily portfolio with the acquisition of a newly constructed asset from Holliday Development in an off-market transaction at an undisclosed price. The asset includes one- and two-bedroom apartments with 20 units set aside for affordable housing.  The units, which range in size from 572 to 1,038 square feet, feature complete appliance packages with full-size washers and dryers, Corian countertops and vinyl plank flooring.  Community amenities include a fitness center, resident lounge, dog wash station and a 10,000-square-foot central courtyard with an outdoor fire pit. TruAmerica senior managing director of capital markets Noah Hochman tells GlobeSt.com: “With affordability continuing impact housing options in the Bay Area, acquiring a brand new asset on a rail line in the direct pathway of gentrification is a compelling investment opportunity.” Historically an industrial area, Bayview has benefited from the city’s efforts to stimulate business, employment and housing growth in the area with the adoption of the Bayview-Hunters Point Redevelopment Plan . As a result, Bayview is undergoing an extraordinary urban renewal that includes the 800-acre, $10 billion San Francisco Shipyard and Candlestick Point projects being developed by Five Point Communities , along with a new mall, retail stores, entertainment, boutique coffee shops, restaurants and breweries. “By sourcing this pre-sale opportunity off market, we were able to acquire the asset at an attractive price, in a submarket we feel is poised for tremendous growth,” says Hochman. In other San Francisco news, Equity Residential kicks off retail leasing at Potrero 1010 , the firm’s under-construction rental apartment community in Showplace Square , with the signing of a long-term 6,000-square-foot lease with the California College of the Arts , and an 840-square-foot lease with growing city favorite, The Boba Guys . The college’s new flex space at Potrero 1010 provides the prestigious art, design, architecture and writing school with much-needed gallery space for student exhibitions and screenings. In Cupertino, CA, CBRE capital markets’ debt and structured finance team has arranged $120 million in financing for two office buildings totaling 260,000 square feet, located within Main Street Cupertino . John Nelson and Erik Franks arranged the financing on behalf of the borrower, a joint venture between Sand Hill Property Company and its capital partner. Main Street Cupertino is a mixed-use project designed to serve as the town center for Cupertino. The development consists of office, retail, hotel and loft apartments. The offices were completed earlier this year, while the retail component is slated to be completed by the end of 2016. Several retailers are already open for business, including Lazy Dog, Lyfe Kitchen, TD Ameritrade, Eureka! Burger and Philz Coffee . The hotel, which is franchised to be a Marriott Residence Inn , and apartments are slated to open in 2017. The development will include a 1-acre town square and a half-acre park. In Fremont, 5555 Auto Mall Pkwy. has sold to LBA Realty . The 177,041-square-foot manufacturing and warehouse distribution building is situated on 11.31 acres of prime real estate located directly across the street from Pacific Commons Shopping Center and one block from Interstate 880. The facility was purchased in 2009 by Sean Pathiratne , the owner of LS Auto Mall LLC .