Sora Apartments, a 250-unit multifamily asset, recently sold for $91.5 million.
UNION CITY, CA—Due to expansions by tech giants, the Union City/Fremont area is getting noticed. Case in point is Sora Apartments, a 250-unit multifamily asset, which recently sold for $91.5 million. The property was built in 1983 on nearly 10 acres within a low-density garden-style setting.
Institutional Property Advisors/IPA, a division of Marcus & Millichap, announced the sale. IPA senior director Salvatore Saglimbeni, IPA executive director Stanford Jones and IPA senior director Philip Saglimbeni represented the seller, Fairfield Greenhaven LLC.
“Sora's location near the Union City-Fremont border provides residents with convenient access to major employers, key transportation corridors and popular retail, dining and recreation options,” said Salvatore Saglimbeni. “The area's relative affordability in contrast to much of the Bay Area make it a popular destination for renters and employers. Both Facebook and Tesla are expanding into the neighboring Ardenwood district of Fremont.”
The property is near the Union Landing Shopping Center and major Bay Area job centers. Commuters have access to employers via interstates 880, 680 and 580, the Dumbarton Bridge, the San Mateo Bridge and BART.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
