FREMONT, CA—With close proximity to Tesla, a multifamily property with potential becomes an investment diamond in the rough for one instinctive investment group. That company, Trion Properties, recently acquired the 88-unit multifamily property located at 4445 Stevenson Blvd. for $26.5 million.
Trion will strategically renovate the apartment community to stabilize the asset and increase net operating income. The firm will also rebrand the property, currently known as Americana Apartments, as Parc 88. This is the firm's fifth Bay Area acquisition in less than two years, bringing its portfolio in the area to 350 units, according to Max Sharkansky, managing partner at Trion Properties.
“Fremont is experiencing tremendous growth,” says Sharkansky. “The market benefits from the expansion of the technology sector as companies are moving across the Bay into this submarket.”
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