Riaz Taplin Of Riaz Capital Acquires 99-Unit Multifamily Property In Berkeley For $37.8M

The asset is a 99-unit multifamily property located at 2121 Dwight Way in Berkeley. The sale price for the property was $37,800,000, translating to approximately $381,818 per unit. The property was purchased by Riaz Capital, reflecting a transaction that occurred about 20% below its assessed value.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,800,000
• Units: 99
• Price Per Unit: $381,818
• Buyer: Riaz Taplin - Riaz Capital

The seller of the property has not been disclosed. This transaction is indicative of the current distress in the Bay Area multifamily market, characterized by rising vacancies and slowing rent growth, which contribute to discounted sales.