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Sean Burton Acquires Tralee Village Apartments In Dublin For $46M

Property Image
SOLD
$46,000,000
Scott MacDonald
Jason Parr
+ 1

California

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MultiFamily
Sold 06/21/2024
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Property Image
SOLD

Sean Burton Acquires Tralee Village Apartments In Dublin For $46M

6599 Dublin Boulevard

See Similar Deals
MultiFamily
Sold 06/21/2024
Scott MacDonald
Jason Parr
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The Tralee Village Apartments, a 130-unit multifamily property located at 6599 Dublin Boulevard in Dublin, was sold by JB Matteson to Cityview for $46,000,000. The property sits on 4 acres of land and offers amenities such as a swimming pool, spa, gym, clubhouse, and ground-floor retail space. It is conveniently situated near major interstates and prominent employers like Chevron and Oracle.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $46,000,000
  • Units: 130
  • Price per Unit: $353,846
  • Address: 6599 Dublin Boulevard
  • Market: Dublin
  • Asset Type: Multifamily

Berkadia represented both parties in the transaction, with Brett Betzler, Jason Parr, Kaohu Berg-Hee, and Scott MacDonald facilitating the deal. Cityview plans to renovate Tralee Village Apartments by focusing on upgrades to flooring, lighting, kitchens, and bathrooms, enhancing the property's common areas and apartment interiors. This strategic move aligns with Cityview's vision for the complex and its desire to provide a high-quality living experience for residents.

Players

Jason Parr
12 deals$699M volume
BROKER

Scott MacDonald
Berkadia
12 deals$699M volume
BROKER

Brett Betzler
Berkadia
5 deals$461.3M volume
BROKER

Kaohu Berg-Hee
Berkadia
3 deals$185.3M volume(415) 835-9202
BROKER

Details

SOLD
IMAGE: Scott MacDonald, Sean Burton, Jason Parr, Kaohu Berg-Hee & Brett Betzler, DATE: 06/21/2024 ADDRESS: 6599 Dublin Boulevard MARKET: Dublin ASSET TYPE: Multifamily ~ ACRES: 4 BUYER: Sean Burton - Cityview SELLER: JB Matteson BROKERS: Brett Betzler, Jason Parr, Kaohu Berg-Hee & Scott MacDonald - Berkadia (@Berkadia) SALE PRICE: $46,000,000 UNITS: 130 ~ PPU: $353,846 NOTE: Cityview has acquired Dublin's Tralee Village Apartments, a 130-unit complex, from JB Matteson. The transaction, facilitated by Berkadia, marks Cityview's strategic move to renovate the property's common areas and apartment interiors, focusing on upgrades to flooring, lighting, kitchens, and bathrooms. Tralee Village features amenities such as a swimming pool, spa, gym, clubhouse, and ground-floor retail space, situated conveniently near major interstates and within proximity to prominent employers like Chevron and Oracle.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
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