Michael Pence Of Roxborough Group Acquires 246-Unit Multifamily At 39800 Fremont Blvd For $109.4M

The asset involved in the transaction is a multifamily property located at 39800 Fremont Boulevard in Fremont, CA. The property was sold for $109,400,000, encompassing a total of 246 units, reflecting a price per unit of $444,715. At the time of closing, the property was 95% occupied.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $109,400,000
• Address: 39800 Fremont Boulevard
• Market: Fremont, CA
• Units: 246
• Price Per Unit: $444,715
• Buyer: Michael Pence - Roxborough Group
• Broker: Institutional Property Advisors - Marcus & Millichap
• Mortgage Broker: Newmark

The acquisition by Roxborough Group marks their second multifamily investment in Northern California through Roxborough Fund III. Property management will be handled by Sares-Regis Group, while the seller was represented by Institutional Property Advisors.