Razmig Boladian Of Rubicon Point Partners Acquires San Francisco Multifamily For $119.3M

The asset involved in the transaction is the 203-unit Madelon apartments located at 2823 18th Street, in the San Francisco market. The property was sold for $119,300,000, resulting in a price per unit of $587,685. The apartments are 99% leased with average rents reported at $3,812.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $119,300,000
• Units: 203
• Buyer: Razmig Boladian - Rubicon Point Partners
• Seller: John Fraser - JRE Partners
• Lender: Equitable Insurance Company
• Average Rent: $3,812

Razmig Boladian from Rubicon Point Partners represented the buyer in the acquisition, while John Fraser from JRE Partners represented the seller. Financing for the purchase was provided by Equitable Insurance Company, with $81 million secured for the transaction.