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BAY AREA MULTIFAMILY BUY

Ridge Capital Investors acquired the 137-unit TownCentre Commons Apartments, located in Brentwood?s newly revitalized downtown, for $19.6M. According to managing director Trevor Wilson, the investment represented an opportunity to purchase a well-leased, high-quality Bay Area property at a compelling basis. The community was built in two phases in the '90s and is 97% occupied. San Francisco-based Ridge is making its first investment with capital partner Redwood Real Estate Partners of Rancho Santa Margarita. The company plans to invest an additional $1M on renovations.

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