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Transactions - MAY 13, 2022

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Bell Partners acquires South San Francisco apartment community

by Released

Sares Regis Group of Northern California (SRGNC) has sold Cadence Apartments, a 260-unit multifamily community located in South San Francisco, Calif.

The property was acquired by Bell Partners, Inc. on behalf of its Bell Apartment Fund VII investors and will be renamed Bell South City.

The seller, a partnership between SRGNC and the AFL-CIO Building Investment Trust, was represented by Berkadia Institutional Solutions (BIS) San Francisco. The financial terms were not disclosed.

“We are thrilled about this transaction, as it demonstrates the strength and desirability of new, high-quality housing in downtown South San Francisco,” said Drew Hudacek, CIO for SRGNC. “Sares Regis remains committed to our strategy of densifying near transit and developing a second phase with additional new apartments at 401 Cypress Ave., which we broke ground on a few months ago. Downtown South San Francisco is experiencing a post-pandemic renaissance with booming biotech, new

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