Tesseract Capital Group (TCG), is pleased to announce the recent acquisition of Aloha Apartments, a 70-unit apartment community in Hayward, CA. Aloha is in a prime location within the submarket situated directly across the street from Jackson Square Shopping Center, a grocery-anchored retail plaza featuring several name brand anchors tenants: Safeway, CVS Pharmacy, 24 Hour Fitness, Starbucks, and Walgreens.
Purchased at a low-cost basis of $13.2M, Aloha offers an attractive value-add opportunity with significant rental upside and amenity potential. Upon closing, TCG will execute a full-scale renovation of unit interiors, building systems, exterior aesthetics and on-site amenities.
The closing of Aloha Apartments will signify TCG’s fourth acquisition in the Hayward submarket bringing its total market share in the city to $55M. TCG is actively seeking additional investments that fit within its acquisition criteria shown to the left.