As Seen on CoStar

Paul Sack Properties Buys Sequoia Apts.
By Ryan Munneke
September 26, 2007

The Paul Sacks Properties Corp., a partnership formed by San Francisco based Sack Properties, purchased the Sequoia Apartments, at 1212 Whipple Ave. in Redwood City, from MJW Investments for $12.02 million, or about $187,900 per unit.

The 64-unit complex consists of five studios, 38 one-bed/one-bath units and 21 two-bed/one-bath units. It traded with an estimated 4.5% cap rate.

David Silver and Ryan Wagner of Arroyo & Coates in San Francisco represented both parties.

Please refer to CoStar COMPS #1397154 for more information on this transaction.