Avanath Capital Management Acquires Multifamily In Novato For $131.5M

Avanath Capital Management has acquired a multifamily property in Novato. The property, located at 5 Hutchins Way & 46 Tinker Way, was sold by Shea Homes for a price of $131,500,000. The transaction took place on 01/05/2023. The property consists of 297 units, resulting in a price per unit of $442,761. CBRE and Fannie Mae served as lenders in the deal.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $131,500,000
• Units: 297
• Sale Date: 01/05/2023
• Address: 5 Hutchins Way & 46 Tinker Way, Novato
• Buyer: Avanath Capital Management - John Williams
• Seller: Shea Homes
• Lenders: CBRE & Fannie Mae
• Price per Unit: $442,761

John Williams, representing Avanath Capital Management, acted as the buyer in the transaction. Shea Homes, on the other hand, served as the seller. CBRE and Fannie Mae provided the necessary lending for the acquisition. The deal marks a significant acquisition in the Novato market.