WALNUT CREEK, CA - 8/31/2016 - Colliers International announced today that it has brokered the largest single combined multifamily and land transaction in Concord, CA, with the sale of Renaissance Square, a luxury 134-unit apartment community, and an adjacent +-2.75 AC parcel approved for an additional 180 units. Renaissance Square, at 1825 Galindo Street, sold for $59.5M, or just over $444,000 per unit, while the adjacent land sold for $4.5M.

Press Release Concord CA Multifamily Sale Rich Martini

The buyer, a joint venture between Legacy Partners Residential and SYRES Properties, was represented by Rich Martini, Vice President of Investment Services at Colliers International. The seller, Monogram Residential Trust (NYSE: MORE), represented themselves in the transaction.

“The East Bay has continued to see significant interest from larger apartment investors. The City of Concord, and the Renaissance location in particular, offers many characteristics important to residents, including walkability to downtown and convenient access to public transportation, including BART”, said Martini.

“Renaissance Square is currently the gold standard in luxury apartment living in Concord” explains David Eichler, Senior Managing Director of Legacy Partners. “Concord has become an increasingly appealing option for residents looking to escape the high rents in San Francisco and other parts of the East Bay. With its vibrant downtown, excellent access to freeways, and walkability to BART, Concord has the many attributes that are important to our residents”.

Renaissance Square, built in 2009 is a 134-unit luxury apartment community with many of the amenities important to today’s millennial residents, including pool, spa, fitness center, community room with kitchen, conference room, and an outdoor grilling area. The adjacent 180-unit Renaissance Phase II will add a new leasing office and clubhouse.

About Colliers International Group Inc.
About Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

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For more information please contact
Terri Durkovic, Operations Manager
Colliers International | Walnut Creek
Phone: +1 925 279 5587
Email: terri.durkovic@colliers.com