Raymond Harbert Acquires Multifamily Asset In Fremont For $35.8M Via Wells Fargo

An apartment complex with 122 units located at 39867 Fremont Boulevard in Fremont has been sold for $35.8 million. The property, now known as Mosaic Fremont, offers a variety of one-, two-, and three-bedroom units along with amenities like a pool, bocce ball court, fitness center, and courtyards.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $35,800,000
• Units: 122
• Price Per Unit: $293,443
• Buyer: Raymond Harbert - Harbert Management
• Lender: Wells Fargo

Raymond Harbert, representing Harbert Management, facilitated the acquisition of the apartment complex with the help of $23.9 million financing from Wells Fargo Bank. The purchase was made through an affiliate of the Alabama-based investor, securing a repositioning opportunity for the property.