Oakland Fund For Public Innovation Acquires Idora Apartments Multifamily From St. Regis Properties For $12.6M

The transaction involves the sale of the Idora Apartments, a 33-unit multifamily asset located at 5239 Claremont Avenue in Oakland. The property was acquired for $12,600,000, equating to approximately $381,818 per unit. This Class A asset was built in 2017 and is situated in Oakland’s Temescal neighborhood.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,600,000
• Units: 33
• Price Per Unit: $381,818
• Buyer: Oakland Fund for Public Innovation
• Seller: St. Regis Properties
• Broker Representatives: Jason Parr, Scott MacDonald, John Hansen & John Hansen - Berkadia

Berkadia facilitated the transaction on behalf of the seller, St. Regis Properties. The acquisition aims to support Oakland Fund for Public Innovation's educator housing initiative through the Rooted program, which receives financing from the San Francisco Housing Accelerator Fund and consulting assistance from ArtHaus Partners.