Trion Properties Sells the Andina Apartments, an 89-Unit Multifamily Property in Hayward, CA
HAYWARD, CA., (February 28, 2022) –Trion Properties, a private equity real estate firm specializing in multifamily investments headquartered in West Hollywood, Calif., and Miami, Fla., has sold the Andina Apartments in Hayward, Calif. The sale generated a gross IRR of 25.80% and a gross equity multiple of 1.72x.
This sale marks the first disposition for Trion Multifamily Opportunity Fund II, which was launched in 2018 and closed to new investments in Q1 2021. Upon acquiring the 89-unit property in September 2019 for $25,000,000, Trion immediately rebranded the property and implemented a value-add strategy of improving the asset through interior and exterior renovations while providing hands-on property management.
Depending upon the terms of the acquisition, Trion offers accredited investors the ability to invest directly into specific assets or into a diversified portfolio of multifamily properties via its Fund vehicles. Trion is currently accepting commitments for Trion Multifamily Opportunity Fund III, which is targeting 12-16% IRR over a 6-8 year period. Currently, Fund III has investments in six assets and is under contract on two new acquisitions. Fund III will ultimately have investments in 15-20 multifamily properties in the western and sunbelt states. Since its founding in 2006, Trion has acquired 78 properties and exited 40. The average annualized return on the 40 properties Trion exceeds 30%.
About Trion Properties
Founded in 2005 and headquartered in Los Angeles, Trion Properties is a private equity real estate firm that invests in value-add multifamily throughout the west coast. Trion has completed more than $1.2 billion in transactions, with a portfolio of over $1 billion in assets, generating an average internal rate of return in excess of 30 percent. With its fully built-out operator platform, Trion has repositioned and stabilized undervalued assets, leveraging its expertise in real estate finance and renovation of multifamily properties to drive returns for its investors.
Since its inception, Trion has acquired the fee interest—or in certain instances, the debt secured by the fee interest—of over 4,200 multifamily units. To date, Trion has successfully repositioned and resold over 1,750 units and over 200,430 square feet of commercial real estate space.
The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management, and redevelopment. Additional information is available at https://trionproperties.com/.
# # #