OAKLAND, CA - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of 9201 Bancroft Avenue, a 16-unit, Class B apartment community located approximately 10 miles outside San Francisco in Oakland, CA.
ARA San Francisco-based Vice President, Michael Colhoun, represented the private local seller in the transaction. 9201 Bancroft sold for $1,280,000 to a private buyer based in the San Francisco area. According to Michael Colhoun, “The closing price exceeded comparable market transactions by 20% due to the fact that the seller financed the property for 6 years at 4% interest only.”
Constructed in 1962, the property is conveniently located four miles from downtown Oakland, is on a bus line and is also close to the rail rapid transit.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Michael Colhoun, at mcolhoun@ARAusa.com or 415.273.2177.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com