February 6, 2020

West Hollywood-based Trion Properties purchased the 61-unit Cedar Grove apartments in San Leandro, CA, for $15 million. Located at 1200 Davis St., near downtown and within walking distance of BART Station, Trion is rebranding the property as Soji Apartments.

According to Trion’s Max Sharkansky, it’s a strategic addition, as the asset benefits from Silicon Valley spillover. “San Leandro draws many residents from the ultra-hot Silicon Valley market and is a vibrant and innovative city on its own,” he said in a statement.

Trion is planning upgrades to the community’s interiors, exterior and common areas, seeking a rental rate increase of 21% or more.

This purchase brings the firm’s East Bay portfolio to five properties. Trion’s other assets in San Leandro include Metro 77&85 and Metro 348, with the company also owning properties in Fremont and Hayward.

NKF’s John Leyvas represented both Trion Properties and the seller in the transaction.

Connect With Trion Properties

Get CRE News in 150 words

For comments, questions or concerns, please contact Chris Egger

Tags: Acquisition, Apartments & Multifamily, Broker, Housing, Renovation