Paul Rahimian Of Parkview Financial Acquires Multifamily Asset In West Oakland For $37.5M

A newly built multifamily property located at 1919 Market Street in West Oakland has been sold. The apartment property consists of 102 units and was acquired for a sale price of $37.5 million. The price per unit is noted to be $367,647.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,500,000
• Units: 102
• Buyer: Paul Rahimian
• Company: Parkview Financial
• Market: West Oakland

The acquisition was made by an affiliate of Parkview Financial REIT through foreclosure following a loan default, with unpaid debt totaling $58.5 million. This transaction is part of a larger trend of multifamily foreclosures in the Bay Area as property owners face loan defaults and lenders reclaim properties at discounted prices.