Matthews™ successfully facilitated the sale of Lucia Apartments, a multifamily property located at 1750 Greenwich Street in San Francisco, California, in a highly competitive transaction that generated more than five offers during marketing. The property ultimately achieved a standout valuation for the area, with both price per unit and price per square foot exceeding local benchmarks. The transaction aligned with both parties’ investment goals, allowing the seller to restructure a Southern California-focused portfolio while enabling the buyer to expand a growing multifamily portfolio through a 1031 exchange strategy.

 

Challenge

The transaction required careful coordination between multiple moving parts, including a time-sensitive 1031 exchange requirement and a competitive offer environment. The seller, based in Beverly Hills, sought to reposition capital into assets more closely aligned with long-term portfolio objectives in Los Angeles. At the same time, the buyer was actively exchanging out of Denver-based assets and needed to identify a high-quality acquisition that met strict exchange timelines. With multiple offers on the table and elevated pricing expectations for the submarket, maintaining momentum while ensuring a smooth escrow process became a critical priority throughout negotiations.

 

Strategy

Matthews™ sourced the opportunity through direct outreach and strategically marketed the asset to Bay Area multifamily owners, generating significant investor engagement and creating a competitive bidding environment. Throughout the process, Matthews™ agents maintained consistent communication across all parties involved, allowing for seamless execution and quick responses as the transaction evolved. The collaborative structure of the platform created flexibility throughout escrow, ensuring that responsibilities could shift efficiently whenever needed to maintain deal velocity. By positioning the property’s strong in-place fundamentals and emphasizing the rarity of achieving such pricing metrics within the neighborhood, Matthews™ was able to drive competitive tension that ultimately elevated the final sale outcome.

 

Result

The transaction closed successfully at one of the highest price per unit and price per square-foot valuations in the surrounding area, delivering a strong outcome for the seller while satisfying the buyer’s 1031 exchange objectives. The smooth execution of the sale further strengthened the relationship with the buyer, who subsequently began exploring additional exchange opportunities through the Matthews™ platform. The successful outcome demonstrated Matthews’™ ability to navigate complex multifamily transactions, generate competitive market activity, and deliver strategic investment solutions that support long-term client objectives.