By Rachel Scheier Costar News
April 9, 2025 I 2:42 P.M.
A large Bay Area apartment complex next door to a BART station sold for almost 20% less than its assessed value from just over a year ago, as investors move to take advantage of relatively low prices in the region’s multifamily housing market.
Still, the nearly $82 million sale is among the priciest in years for the East Bay Area’s apartment market.
Two California investors, the San Francisco-based Roxborough Group and Los Angeles-based Camden Pacific Partners, purchased the 243-unit Union Flats apartments in the East Bay town of Union City for $81.6 million, compared to the development’s assessed value of $100 million in January 2024, according to Costar.