San Francisco, CA (November 2011) -- Arroyo & Company announced today that it acted as advisor to an institutional buyer in the acquisition of The Terraces, a 117-unit multifamily community with 15,400 SF of retail space located in San Francisco, California.  The property was sold through a special servicer whose identity was not disclosed.  The sales price was also not disclosed.
 
Originally constructed in 1975 and substantially renovated in 2007/2008, The Terraces is located in San Francisco’s Lower Nob Hill neighborhood at the intersection of Bush Street and Larkin Street, in close walking proximity to extensive retail, dining, entertainment, employment, and public transportation options.  The property includes studio and one bedroom units in a nine-story residential tower over a two-story parking garage with 71 gated parking spaces and elevator access to a 15,400 SF corner retail space occupied by Walgreens.
 
The buyer was represented in the transaction by Nathan Blair of San Francisco-based Arroyo & Company.  The seller acted on its own behalf.
 
Since 2003 the Arroyo & Company | California Multihousing Group team has participated in the sale of more than 9,000 multifamily units on a total volume of more than $1.4 Billion.  Specializing in the sale of multifamily income properties, the Arroyo & Company | CalMHG team provides a wide range of commercial real estate brokerage services for private and institutional investors throughout California.