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Well-Priced Multifamily Grabs Multiple Offers, Value-Add Office Finds Buyers

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Despite COVID bringing a halt to many sales, prime San Francisco neighborhoods are in demand with well-priced multifamily buildings receiving multiple offers and value-add investors are looking for Sacramento opportunities.

Despite a market where rents have declined 10% since the shelter in place orders went into effect and tech employees began working from home full time, the demand for apartment buildings in prime San Francisco neighborhoods has been strong. The Colliers San Francisco-based multifamily investment team led by James Devincenti and Brad Lagomarsino note that well-priced buildings received multiple offers while others traded at a 5 to 10% discount from the 2019 highs.

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Brad Lagomarsino

Executive Vice President

San Francisco

Brad Lagomarsino and his business partner, James Devincenti, lead a team of highly qualified professionals specializing in multi-family, mixed use and commercial investment sales and portfolio dispositions in San Francisco (and the Greater Bay Area).

 

Brad’s career in commercial real estate started in 1992 in Northern California where he worked for CB Richard Ellis for 10 years prior to joining Marcus & Millichap in San Francisco, where he worked for another decade.

 

Brad is a graduate of the University of Southern California with a degree in Urban Regional Planning. He and his wife, Leslie, have two children: Ella, 15 and Robert (“Bo”), 8. In his spare time, Brad enjoys playing golf and skiing.

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James Devincenti

Executive Vice President

San Francisco

James Devincenti and his business partner Brad Lagomarsino lead a team of highly qualified professionals specializing in multi-family, mixed use and commercial investment sales and portfolio dispositions in San Francisco (and the Greater Bay Area). James and his business partner have sold over 650 apartment or commercial buildings, totaling over 13,650 units and valued at nearly $3.7 Billion Dollars.

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Thomas Walcott

Executive Vice President

Sacramento

On your journey to find the perfect space for your business, I am your advisor, advocate, confidante, and ally. Whatever your real estate need may be, wherever your destination, your vision is my mission. Landlords, tenants, building owners, and users rely on me and my partners to create leverage through negotiation to get them the best opportunity to achieve their long and short term goals. I work with each of my user clients to understand the benefits of buying vs. leasing and determine which option is best for their business. I help my clients see everyone’s cards on the table, without showing any other players our hand.  

Whether you’re looking to increase your building value in Roseville, stabilize your occupancy Downtown, reposition your asset for sale in Natomas or source your next acquisition in Campus Commons, my partners and I have the connections and capabilities to ensure success. When working with building owners, I optimize exposure for their buildings, secure high quality tenants, and achieve and maintain high levels of occupancy – maximize value!. I help clients analyze their real estate assets to determine effective acquisition and disposition strategies.

I enjoy giving back to the community through organizations that touch matters close to my friends and family such as The Jenna & Patrick Foundation of Hope, Albie Aware Breast Cancer Foundation, and Leukemia & Lymphoma Society. As a native Sacramentan, I enjoy all that the area has to offer with my wife and two children whether it be relaxing in Lake Tahoe, golfing, or enjoying a summer BBQ.

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Brad Idleman

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Brad maintains and develops client relationships by presenting acquisition opportunities to buyers and bringing forth numerous capital sources to assets located in the Western United States. Brad's direct transactional involvement offers clients an enhanced level of service and provides them with the information needed to implement and succeed in their acquisition and disposition objectives.

Through his exposure and knowledge of the debt and equity markets, Brad assists clients in taking advantage of current market conditions by providing real-time capital solutions for every transaction. With extensive experience in underwriting, financial auditing, investment valuations, contract and transaction negotiations, and execution, Brad confidently advises his clients through every step of the transaction lifecycle.  

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Andrew Gibson

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Before Palmer Capital, Mr. Gibson was a Captain in the United States Air Force. As a contracting officer, Mr. Gibson was responsible for managing multiple existing contract programs and leading source selections for Air Combat Command, Al Udeid Air Base, and Beale AFB, with a total value of more than $300M. Mr. Gibson holds an MBA from the University of North Carolina's Kenan-Flagler School of Business and obtained his bachelor's degree from the United States Air Force Academy.

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Robert Gilley

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Bob is Executive Vice President in the San Francisco office of Colliers International with more than 25 years of commercial real estate transaction experience. He is responsible for managing the institutional investment sales platform in the San Francisco Bay Area, Sacramento and the Pacific Northwest. The investment sales group specializes in institutional-grade assets concentrating on office, R&D, industrial and Land properties.

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Kevin Moul

Executive Vice President

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Kevin is an Executive Vice President on Colliers Institutional Capital Markets team where he focuses on selling institutional grade investment properties in the North Western Region of the United States. Kevin is licensed in multiple states and has been a consistent top-producer at Colliers.  Kevin attributes his success to his creative outlook to the deal-making process and ability to overcome obstacles that may arise during any given transaction. 

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Andy Zighelboim

Executive Vice President

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Andy has spent his career advising a diverse array of clients within the institutional capital markets landscape, including pension funds, life insurance companies, private equity funds, investment managers, REITs, operating platforms, high net worth entities, and corporate users. His primary expertise lies within the valuation and disposition of institutional quality assets located within the East Bay, San Francisco Peninsula, and Silicon Valley.  Andy has successfully advised on over $11.5 billion of transactions chiefly within the industrial, flex, office, and land sectors.

 

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Jason Rutherford

Executive Vice President

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My interest in real estate began at an early age watching my mother build a successful career as a residential agent. After joining Grubb & Ellis Company as an intern in 1997, I developed my passion for the office and investment sales arena. I like to be very active and have a hands-on understanding of the market. Office leasing and sales requires me to be consistently on top of the ever-changing real estate landscape. Knowing what is going on in the market is not enough to provide the exceptional and service my clients have come to expect from my team and me. To accomplish and surpass our clients’ goals, we analyze historical data, stay educated on CRE trends, and forecast future market activity.

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My determination to surpass expectations and provide top-notch service is evident in the evolution of 555 Capitol Mall. After selling the property at 56% occupancy, my team and I worked diligently to lease up the remaining space. In a brief period, we leased 90% of the space at stronger rents than projected. 555 Capitol Mall had its own challenges, as does every project. Transacting real estate is not hard, finding space is not difficult, but being creative, innovative and aggressive while protecting every cent is a challenge I engage in every day. My true “WE” effort with a passionate attitude positions my clients for success.

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Kris Reilly

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