Multifamily operators highly active in two Bay Area counties

  • Five multifamily deals that closed in Santa Clara County totaled $610 million.
  • Eighty-three multifamily transactions closed in Alameda County last quarter.
  • Accelerating rents are expected to continue in Alameda, as the county has the lowest vacancy rate in the Bay Area and a minimal development pipeline.

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When eyeing recent multifamily transaction activity in the Bay Area two counties, Santa Clara and Alameda, stand out. During the fourth quarter of last year Santa Clara County accounted for the highest multifamily sales volume (nearly $795 million), while Alameda contributed the most rental property sales (83), according to a report from Cushman & Wakefield.