Essex Property Trust Buys 474-Unit Lincoln Landing in Hayward for More Than $200MM, Doubling Down on the East Bay
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- 3 stories mentioning Essex Property on the wire in the past 90 days. Essex Property coverage →
Computed from Real Estate Trail’s own tracked coverage
Essex Property Trust closed on a 2022-built, 474-unit East Bay community for more than $200 million, a property research by The Registry identifies as Lincoln Landing in Hayward, as executives used the REIT's third-qu…
External link. Real Estate Trail does not republish source content.
More from the wire
Sandra Thompson flags mortgage risk in FHFA’s unified score pricing
Thompson said that changing the credit score framework is “no small task”
Truist Provides $152M Construction Loan for Marina Shores Multifamily Project in Long Beach
LONG BEACH, CALIF. — Truist has closed a $152 million construction loan for Marina Shores, an apartment community at 6615 E. Pacific Coast Highway in Long Beach. Carmel Properties is developing the asset. The six-stor…
Origin Investments, Mill Creek Residential to Develop 190-Unit Apartment Community in Old Town Scottsdale
SCOTTSDALE, ARIZ. — Origin Investments and Mill Creek Residential have unveiled plans to develop Modera Old Town, a multifamily property in Old Town Scottsdale. Construction on the 190-unit property will begin in Octo…
Gantry Secures $31M Refinancing for Value-Add Retail Property in Southern California
LANCASTER, CALIF. — Gantry has secured a $31 million permanent refinance for the Valley Central Shoppes, located at 44410-44690 Valley Central Way in Lancaster. Tony Kaufmann, Jake Davis and Ramza Zeiter of Gantry rep…
Lee & Associates Negotiates Sale of 34,168 SF Industrial Building in Oceanside, California
OCEANSIDE, CALIF. — William Roth Group of Lee & Associates has arranged the sale of 2620 Temple Heights Drive in Oceanside. Temple Heights Property Co. LLC sold the asset to 2620 Temple Heights LLC for $6.1 million. T…
Northmarq Arranges Sale of 627-Unit Meadowbrook Apartments in Lawrence, Kansas
LAWRENCE, KAN. — Northmarq has arranged the sale of Meadowbrook Apartments, a 627-unit community and adjacent 4.3-acre development tract in Lawrence. Casey Wilhm, Jeff Lamott and David Belpedio of Northmarq represente…