Mosser Capital has recapitalized a nine-property portfolio of rent-stabilized, urban-work-force housing portfolio with Tokyu Land US Corporation (TLUS), the U.S. subsidiary of a fully integrated, publicly traded Japanese real estate investment and development firm, for $90 million.
This represents the largest portfolio transaction to date in Oakland, Calif., in this product type. The properties are all located in Downtown Oakland and surrounding neighborhoods, which continue to experience a grand-scale renaissance that has significantly increased the attractiveness of this market to institutional investors over the past several years.
Mosser initially acquired the assets between 2016–2017 with the intent of executing its value-add repositioning to bring the units up to the Mosser standards and fill the large gap between available class A product and the large stock of under-improved housing within the areas. This represents Mosser’s second new direct relationsh
