Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire Amare Apartment Homes (the “Project” or “Property”), a 183-unit fully entitled multifamily development opportunity locatedon approximately ±6.06 acres in Martinez, California. The Project is designed as a thoughtfully planned garden-style apartment community consisting of six residential buildings ranging from three to four stories, with a mix of onebed and two-bedroom units. Nine units will be designated as affordable housing, enabling the Project to qualify under California State Density Bonus provisions.

The Project has advanced through an extensive entitlement and environmental review process, significantly reducing development risk relative to early-stage multifamily opportunities. Following publication of an Initial Study/Mitigated Negative Declaration, the City ultimately required preparation of a full Environmental Impact Report (EIR) to address public comments related to biological resources and transportation impacts. The final EIR was released in September 2022 after completing a formal public review period, marking a substantial milestone in the entitlement process and positioning the project for execution.

Upon completion, residents will enjoy a comprehensive suite of lifestyle amenities designed to compete with newer institutional-quality multifamily communities throughout the East Bay. Community features include a fitness center, business center and co-working space, leasing office, package room, children’s play area, outdoor kitchen and gathering spaces, landscaped courtyards, and abundant open space. The Project provides almost two acres of open space, exceeding city requirements, and incorporates extensive landscaping, stormwaterintegrated design features, and a cottage/craftsman-inspired architectural character that creates a distinctive residential environment.

...