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Transactions - APRIL 3, 2020

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Levin Johnston Group sells two multifamily assets in the Bay Area

by Released

Levin Johnston Group has sold two multifamily assets in the Bay Area

The assets are Leigh Court, an 18-unit multifamily community in San Jose, and 1 Devonshire, a 15-unit multifamily property in the San Francisco Peninsula submarket of San Carlos, Calif.

With these sales, the brokerage team facilitated a strategic 1031 exchange on behalf of the investor who sold Leigh Court and acquired 1 Devonshire, according to Levin Johnston’s executive managing director Adam Levin and senior managing director Robert Johnston.

“Demonstrating the strength of the irreplaceable San Jose location, we were able to quickly source a buyer for Leigh Court who met the seller’s price requirement,” said the firm. “The seller of the asset was then looking to acquire another Bay Area property that would offer immediate strong cashflow and growth potential with less hands-on management required.”

San Carlos is located in the heart of San Francisco Bay Area and is known f

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