During the fourth quarter of last year, Santa Clara County accounted for nearly $800 million in multifamily transactions closed, including 83 multifamily transactions, totaling $371 million. Contributing to this volume was the sale of a 544-unit property for $158 million, purchased by Phoenix Realty Group. Alameda County is one of the fastest growing counties in California. As such, rapid rental rate growth is expected to continue.
This is an excerpt of the article “Multifamily Operators Highly Active in Two Bay Area Counties” which appeared in Inman SF Bay Area on March 8, 2016.