August 29, 2016
Be sure to check out and register for Connect Apartments, coming to L.A. on September 15.
Foster City, CA-based Legacy Partners and San Rafael, CA-based SyRES Properties acquired Renaissance Square, a 134-unit luxury apartment community and a 2.75-acre development parcel in Concord, CA. The JV bought the apartments for $59.5 million and the land for $4.5 million from Plano, TX-based Monogram Residential Trust.
The existing four-story complex near the Concord BART Station was completed in 2009, and features a pool and spa, fitness center, community room and kitchen, conference room space and outdoor lounge and grilling areas.
Construction of 180 additional residential units is slated to begin next month, with an expected completion in summer 2018. This phase will add a new leasing office, clubhouse, wine bar and demonstration kitchen.
SyRES Properties’ Glen Ceridono says Renaissance Square is aligned with a Bay Area urban lifestyle built around “walkable communities that are close to public transportation.”
For comments, questions or concerns, please contact Dennis Kaiser