Northmarq secures $45 million sale of 87-unit Bay Area multifamily property
MORGAN HILL, Calif. — Northmarq’s Walnut Creek Investment Sales team led by Anthony Pappageorge and Zach LeBeouf led the $45 million sale of Sunsweet Apartments, an 87-unit multifamily property located at 90 E. 3rd St. in Morgan Hill, California.
Northmarq represented the seller, Sunsweet Morgan Hill Development LLC, in the transaction. The buyer is Keech Properties.
“In concert with the Northmarq San Francisco Debt + Equity team’s relationship with the developer- Republic Urban Properties, we were able to secure the listing and execute the sale,” Pappageorge said. “The buyer is excited to see the strong rent grown wave from AI tech hiring in San Francisco, down through the peninsula to Silicon Valley, continue to this sub-market.”
Built in 2020, Sunsweet Apartments is situated on a 1.88-acre site and encompasses 81,324 square feet. Situated in Silicon Valley’s southern corridor, the community features a mix of studio, one- and two-bedroom apartment homes with stainless steel appliances, modern finishes, in-unit laundry and walk-in closets.
The community offers amenities including a resort-style swimming pool, fitness center, clubhouse, EV charging stations and multiple outdoor gathering spaces. The property also has roughly 8,000 square feet of ground-floor retail space.
Located in the heart of downtown Morgan Hill, Sunsweet Apartments also offers convenient access to a variety of dining, retail and entertainment destinations.
The property's modern construction, downtown location and amenity-rich offering positioned it as a highly attractive acquisition opportunity for investors seeking quality multifamily assets in the Bay Area.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
