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Bridgecourt Apts. Sells for $87.4 Million

LA Investors Buy 220-Unit Property
February 9, 2018
Los Angeles-based Decron Properties acquired the 220-unit Bridgecourt Apartments for $87.4 million, or about $397,273 per unit.

The complex at 1325 40th St. in Emeryville, CA, consists of 106 one-bedroom/one-bath units, and 114 two-bedroom, two-bath units with sizes ranging from 554 square feet to 1,179 square feet.

Amenities include pool, spa, sauna, and dog park. The buyer plans to complete the upgrades the seller had started prior to the close of escrow. Unit upgrades include stainless steel appliances, new cabinets, drawers, quartz countertops and common area upgrades.

Bridgecourt also includes ground-floor retail with such national tenants as Verizon, GameStop and Weight Watchers.

Moran & Co. represented both the buyer and the seller, The Bascom Group and The Carlyle Group.

Please refer to CoStar COMP #4130685 for more information on this transaction.
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