Ridge acquired Citadel Apartments, a 22-unit property, for $5.33 million in December, 2016. Citadel Apartments is a very well located asset in Rohnert Park, California, within close proximity to Hwy 101, a newly planned downtown area, Sonoma State University and major area employers. Rohnert Park continues to be one of the tightest rental markets in…
Ridge acquired 111 Market Square in 4Q2016 with an institutional capital partner for a purchase price of $64,750,000 ($$202psf). The 320,559 square foot, two-building complex is located at the epicenter of downtown San Jose’s growth corridor, contiguous to the San Pedro Square Market. Originally developed in 1963-1965, Market Square is physically positioned to directly benefit…
Ridge acquired the 30 unit, Tuscana Townhomes in Tracy, California, in 4Q2016. Tuscana is a high quality multifamily asset built in 2007 and the property showcases modern and functional two and three-bedroom townhouse style floorplans, each with a private enclosed garage space. The lush, well-maintained landscaping and surrounding single family homes add to the community’s…
The three-building, 191,009 SF, Class A office/R&D portfolio was acquired for $35.1 million in May 2015. The properties are considered to be in the top tier of the Tri-Valley R&D market, with high-quality recent construction, functional space, abundant parking and access to nearby amenities and transportation. The portfolio was acquired as REO from a CMBS…
Latham Square, a historic landmark in the heart of downtown Oakland, was acquired in 2014 for $12 million. Ridge implemented a significant capital investment into the fifteen-story property, making it Oakland’s first and best truly creative office building. The space suited the needs of modern tenants with flexible and open floor plates, collaborative working environments…
Sierra Ridge was acquired on an off-market basis by Ridge for $18 million ($132K/Unit) in partnership with Andell, Inc. The Class B+ property is located in the affluent suburb of Roseville in Sacramento, which is known for its high quality of life, excellent schools and easy access to major employers. Sierra Ridge was originally developed…
Balentine Park was acquired through foreclosure by Ridge in partnership with Contrarian Capital Management in 2014. The property was 30% vacant, but is a functional, well established office property in the Newark/Fremont market. Due to the financial downturn in the economy, Balentine Park went into receivership for two years and suffered from loss of tenancy…
Lesarra was acquired by Ridge for $22.8 million in partnership with Andell, Inc. The property is a newly constructed Class A multifamily property that was developed as for-sale condominiums. The property is located in one of the most desirable and sought-after locations in Sacramento and is considered to be the market leader given its very…
Orchard Parkway was acquired by Ridge in partnership with its institutional capital partners in 2013. The property is a well-located, partial two-story office/R&D building situated within the Golden Triangle of Silicon Valley. The asset was vacant at acquisition, but had previously served as the corporate headquarters for a major publicly traded technology company. The business…
Saratoga Downs at Sheveland Ranch was acquired by Ridge for $39.5 million in partnership with its institutional capital partners in 2013. The property is a Class A multifamily property originally developed as apartments and for-sale townhomes in two phases (2006/124 Units, 2012/54 Units). Located in Napa, CA, the asset was purchased from the original developer….