GID Investment Advisers LLC recently acquired — on behalf of affiliate Windsor Columbia Realty Fund LLC — the 232-unit Redwood Creek luxury apartment community in Rohnert Park, Calif.
The value of the transaction was not disclosed.
The community, which will be renamed Windsor at Redwood Creek, was completed in December 2005 and comprises 11 residential buildings and a recreation/leasing building. Amenities include a pool, hot tub, sport court and fitness center. The community offers a mix of one-, two- and three-bedroom floor plans, averaging a spacious 1,039 square feet.
Matt Stuart, assistant vice president of real estate acquisitions for GID, said, “The San Francisco Bay Area, with limited new supply and high cost of home ownership, is an apartment market we have wanted to enter for some time. Given the strong location near Highway 101 and proximity to a large collection of retail, we expect this asset to be an excellent first investment in the Bay Area.”
The General Investment & Development Cos., based in Boston, acquire and develop apartment, condominium, office, research & development, and industrial properties.