Lili F. Dunn Of Bell Partners Acquires 195-Unit Multifamily Property For $130 Million In South San Francisco

The property asset involved in this transaction is a multifamily apartment building located at 401 Cypress Avenue, South San Francisco, CA. The building consists of 195 units and was sold for $130,000,000, translating to a price per unit of $666,667.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $130,000,000
• Units: 195
• Price Per Unit: $666,667
• Buyer: Lili F. Dunn - Bell Partners
• Seller: Rob Wagner & Mark Kroll - Sares Regis Group

This transaction marks the acquisition of the 195-unit Celeste apartment building by Bell Partners from Sares Regis Group of Northern California. This deal reunites the original 455-unit development and occurs amidst rising investor interest in South San Francisco, influenced by the region's AI-driven economy which is increasing rental demand.