GID Investment Advisers LLC recently acquired on behalf of an affiliate, Windsor Realty Fund-V LLC, the 284-unit Metropolitan Apartments in Emeryville, Calif.
An unidentified entity sold the property for an undisclosed price.
WRF-V is an equity co-investment joint venture between GID and the California State Teachers’ Retirement System.
The property, which will be renamed Bay Street Apartments by Windsor, consists of one- and two-bedroom units with an average unit size of 966 square feet. Fifty-seven of the units are rent-restricted and have been set aside for residents earning below the area median income.
Bay Street Apartments was completed in early 2007 and consists of five levels of luxury housing residences and resident parking built above two stories of retail and public parking, which belong to Bay Street Emeryville, a retail, entertainment and residential mixed-use development created in a private and public joint venture with the Emeryville Redevelopment Agency.