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Woodgate Apartments Woodgate Apartments in Mountain View sold for $22.5 million.

SAN FRANCISCO—With 10 recent Bay Area trades, Levin Johnston of Marcus & Millichap directed 1031 exchanges with a total year-to-date transaction volume of more than $360 million. Levin Johnston recently directed the sale of a mixed-use property featuring three retail suites and seven multifamily units in San Francisco and the acquisition of Broadway Apartments, an eight-unit multifamily property in Burlingame on behalf of a single client in a 1031 exchange transaction, according to Adam Levin, executive managing director of Levin Johnston. The closing of Broadway Apartments was within six weeks of the sale of the mixed-use asset.

“With this 1031 exchange, we were able to help the buyer of Broadway Apartments trade out of a multifamily and retail property, subject to San Francisco’s tight rent regulations, and into an apartment community in a highly affluent submarket that offers significant upside potential,” notes Levin Johnston’s senior managing director Robert Johnston.

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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.

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