PETALUMA, CA—JB Matteson Inc., a San Mateo,CA-based private real estate investment manager, has acquiredTheatre Square Apartments, a class A mixed-use property located 151Petaluma Blvd. South and 101 Second St. in downtown Petaluma, CA.The acquisition price was $32.5 million.
The seller was Basin Street Properties, theoriginal developer of the property. Seth Siegel ofCushman & Wakefield represented the seller inthe transaction.
Completed in 2005, Theatre Square Apartments is a three-storymixed-use development featuring a total of 99 apartments, 43 ofwhich are loft-style, in addition to 22,250 square feet of groundlevel commercial/retail space.
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