12/31/2008

Blue Rock Village multi-family sells for $54.4M

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Blue Rock Village, a 560-unit apartment complex in Vallejo, Calif., has been sold to a San Francisco-based private ownership group for $54.4 million.

Stanford Jones, Phil Saglimbeni and Sal Saglimbeni of Marcus & Millichap represented both the buyer and the seller in the transaction.

Blue Rock Village is located at 1900-2000 Ascot Parkway and sits on a 448,256-square-foot lot. It sold for $97,143 per unit and is situated near Six Flags Marine World.

"Even in a challenging market, this transaction is evidence that properly marketed, quality assets will attract strong buyers," Phil Saglimbeni said.

Address: 1900-2000 Ascot Parkway, Vallejo, Calif.

Size: 560 units

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Filed Under: Multi-Family

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