Tidewater Capital Acquires 94-Unit Arc Light Apartments In San Francisco For $37.8M

The property asset involved in this transaction is a multifamily building consisting of 94 units located at 21 Clarence Place in San Francisco. The sale price for this property was $37,800,000, which translates to a price per unit of approximately $402,128. The asset features below-market-rate units, ground-floor retail space, and resident parking facilities, contributing to its desirability in the local market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,800,000
• Units: 94
• Price Per Unit: $402,128
• Buyer: Craig Young - Tidewater Capital
• Seller: Sean Burton - Cityview; Cathy Marcus - PGIM Real Estate
• Market: San Francisco

This transaction involved key individuals and companies such as Craig Young, representing Tidewater Capital as the buyer, while Sean Burton represented Cityview and Cathy Marcus represented PGIM Real Estate as sellers. Tidewater Capital's acquisition of this property enhances their growing portfolio in the Bay Area.