Virtu Investments has completed the sale of the Briarwood Apartments, a multifamily property located in Livermore, California. The transaction closed for $19.8 million. Livermore sits approximately 6 miles east of Pleasanton.
Marcus & Millichap served as the representative for Virtu Investments in the deal. The firm also arranged an acquisition loan valued at $13.3 million and identified the buyer, whose identity remains undisclosed. The sale of Briarwood Apartments was part of a larger portfolio trade involving three properties.
The Briarwood Apartments complex consists of 64 residential units. The buildings were originally constructed in 1961. The property is situated in Livermore, which is located about 44 miles west of San Francisco.
Details regarding the specific terms of the three-property portfolio trade were not provided. Information about the buyer's future plans for the site or the specific financial terms of the $13.3 million loan beyond its total amount is not yet clear.
