Vivmark Residential Adds Seven Bay Area Properties for $741.8M

Vivmark Residential Adds Seven Bay Area Properties for $741.8M

Newly formed AvalonBay Communities and Equity Residential entity Vivmark Residential has expanded its footprint with the acquisition of seven apartment complexes in Northern California. The portfolio, totaling more than 1,800 units, was secured through a series of transactions amounting to $741.8 million. This move comes shortly after the completion of the $71 billion merger between AvalonBay and Equity Residential, a deal that created the largest apartment REIT in the sector.

The acquisitions are strategically located in high-cost coastal markets near San Francisco, including Campbell, Mountain View, Fremont, Dublin, and Union City. The individual assets include the 348-unit Avalon Campbell, acquired for $147.3 million, and the 238-unit Avalon Towers on the Peninsula in Mountain View for $140.4 million. Other purchases include Avalon Fremont (308 units) for $124.3 million and Eaves Creekside in Mountain View (300 units) for $117.3 million. The remaining three properties—Eaves Fremont, Eaves Dublin, and Eaves Union City—added 649 units across Fremont, Dublin, and Union City for combined consideration of $212.6 million.

Brad Dillman, founder of Florey Street Advisors, noted that the merger combined two firms with significant overlap in coastal geographies. This latest acquisition reinforces that strategy, concentrating the new entity’s capital in established markets rather than Sun Belt regions. Vivmark Residential now manages a portfolio exceeding 180,000 rental apartment units.

What to watch

• Future integration details regarding the combined AvalonBay and Equity Residential portfolios.
• Additional acquisitions by Vivmark Residential in other coastal markets.
• Upcoming earnings reports for AvalonBay Communities and Equity Residential.

Source: original release