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The POP is a five-story mixed-use residential and retail building located at 9634 Thorsk St. in downtown featuring 118 residential units and 12,500 square feet of ground-level retail.
Acacia Capital Corporation purchased the offering for $248 million or approximately $459,000 per unit, making it one of the largest single-asset value-add multifamily sales in Bay Area history.
Demand for real estate investments remains high, with multiple sources of active capital, but cross-border investment is likely to slow in the short term and the scope will depend on how the disease evolves.
Industrial property construction added 144 million square feet across 441 properties last year with Dallas in second place following the Inland Empire which is set to grow by a larger margin.