Jan
23

SAN FRANCISCO BUSINESS TIMES – 01/23/15

HAYWARD HOUSING DEVELOPMENT SITE SELLS FOR 11 TIMES WHAT OWNER PAID

Friday, January 23, 2015 San Francisco Business Times Libitzky Property Cos. sold a Hayward residential development site for $23.7 million – more than 11 times the $2.1 million that it paid in 1999 for the property. Public homebuilder TRI Pointe Homes Inc. was the buyer of the site at 199 Filbert Street, which has entitlements for 157 residential units, including 105 townhouses and 52 single-family homes. Buildable home sizes range from 1,342 square feet to 1,908 square feet, according to the property’s offering document. The sale reflected the strong demand for housing in the East Bay, said Kevin Perkins, associate principal at Emeryville-based Libitzky, which controls around 6 million square feet in industrial property. Link to original article