CBRE Facilitates $37.25M Sale Of Sunset Pines And Coral Court Apartments In Concord

Sunset Pines and Coral Court Apartments located at 1770 Adelaide Street and 1491 Detroit Avenue in Concord, California were recently sold. The multifamily property, consisting of 116 units, was sold by Naturally Occurring Affordable Housing. The sale was facilitated by CBRE, with brokers Keith Manson, Zachary Greenwood, and Mac Watson representing the seller. The sale price for the property was $37,250,000, resulting in a per unit price of $321,121.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $37,250,000
• Units: 116
• Price Per Unit: $321,121
• Address: 1770 Adelaide Street & 1491 Detroit Avenue
• Market: Concord

CBRE played a key role in facilitating the sale of Sunset Pines and Coral Court Apartments. The buyer, non-profit organization Eden Housing, plans to convert the market-rate portfolio into affordable housing with financial support from the City of Concord.