FREMONT — A Fremont apartment complex sold for more than $30 million in a deal that shows investors still seek to own multifamily housing in the Bay Area despite a thorny real estate market.
Harbert Management, acting through an affiliate, bought the complex at 39867 Fremont Blvd. near Birdwell Avenue, for $35.8 million, according to documents filed on April 25 at the Alameda County Recorder’s Office.
The 122-unit, two-building residential property, now know as Mosaic Fremont, was built in 1969, according to the Apartments.com website.
Harbert Management handles several investment funds and buys real estate assets, often in partnership with other investors, the company’s website states.
Apartments, office buildings and retail centers are among the property types in which Harbert Management invests, according to the Harbert website.
“We are first and foremost an investor in our own strategies,” Harbert Management states on its website. “We suggest no investment to our co-investors unless Harbert Management’s or its affiliates’ capital is also committed.”
At the time of its recent purchase of the Mosaic Fremont apartment complex, the Harbert Management affiliate obtained $23.9 million in financing from Wells Fargo Bank, the county records show.
Mosaic Fremont consists of one-, two- and three-bedroom units, and amenities include a pool, bocce ball court, fitness center and five communal courtyards, the Apartments.com website states.
