New Transit-Oriented Community Sold in Bay Area

Source: Multi Housing News

Colma, Calif.—Situated just south of San Francisco, one of the Bay Area’s newest transit-oriented communities, La Terrazza at Colma Station, was sold for an undisclosed amount. Completed in 2005, the apartment community is located adjacent to the Colma BART and SamTrans Stations on El Camino Real in the town of Colma.

Providing convenient proximity to downtown San Francisco and Silicon Valley, this mixed-use property sits on just over two acres and consists of 153 residential units and three commercial spaces. La Terrazza is encumbered by a 55-year regulatory agreement requiring 20 percent of the property’s units be rented to very low-income households.

The San Francisco-East Bay and the North Orange County offices of Hendricks & Partners negotiated the transaction on behalf of the buyer, EQR-La Terrazza at Colma Station LP, and the seller, Colma Apartment Associates LP.

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