Northmarq brokers $5 million 1031 exchange of Fairfield, CA Jasmine Gardens Apartments
WALNUT CREEK, Calif. (Jan. 3, 2024) — Northmarq’s Walnut Creek Multifamily Investment Sales team of Zach LeBeouf, senior vice president, and Anthony Pappageorge, managing director, has completed the $5 million sale of Jasmine Gardens Apartments. The 28-unit multifamily property was built in 1986 and is located at 1979 Grande Circle in Fairfield. Northmarq represented both the seller and buyer in the transaction.
“This was a good transaction for both sides. The sale is a downleg for the seller, in which they plan to execute a 1031 exchange into a larger value-add asset,” said LeBeouf. “The purchase was a 1031 exchange for the buyer who had been looking for some time to add units in Solano County and capitalize on economies of scale.”
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
