Tesseract Capital Group (TCG) is pleased to announce its recent acquisition of The Appian Terrace Apartments, a 39-unit community located in El Sobrante, CA. TCG went into contract on the asset in December 2020 and successfully closed the transaction in accordance with originally contracted COE dates. TCG worked with KeyBank Real Estate Capital (KBREC) and Transwestern to complete the transaction.
“Having represented TCG as a buyer on multiple deals, I can confidently say they are one of the most reputable and trustworthy buyers I have ever worked with.”
Shivu Srinivasan, Senior Director, Transwestern
The property is comprised of 27,550 SqFt of Net Rentable Area including 25 two-story townhome-style apartments. TCG plans to expand upon its signature value-add strategy with the ground-up construction of 2-4 additional dwelling units (ADUs) on site.
The closing of Appian Terrace will signify TCG’s twelfth acquisition in the East Bay submarket bringing its total market share in the region to $150M.