{"id":1004083464,"date":"2013-09-12T04:56:09","date_gmt":"2013-09-12T12:56:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004083464"},"modified":"2022-12-06T21:47:44","modified_gmt":"2022-12-07T05:47:44","slug":"thai-company-buys-bay-area-m-f-tower-for-103m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/thai-company-buys-bay-area-m-f-tower-for-103m\/","title":{"rendered":"Thai Company Buys Bay-Area M-F Tower for $103M"},"content":{"rendered":"<p><i>By Scott Baltic, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/image007.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004083469\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/thai-company-buys-bay-area-m-f-tower-for-103m\/image007\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/image007.jpg\" data-orig-size=\"288,234\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"image007\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/image007.jpg?w=288\" class=\"alignleft size-full wp-image-1004083469\" alt=\"image007\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/image007.jpg\" width=\"288\" height=\"234\" \/><\/a><\/p>\n<p>Bangkok-based Land &amp; Houses PCL, Thailand\u2019s largest homebuilder, has purchased Domain, a 264-unit, luxury transit-oriented rental community in Oakland, Calif., for $103.2 million. The sale was announced Tuesday by Institutional Property Advisors, a division of Marcus &amp; Millichap, which arranged the transaction for the seller, an affiliate of Berkshire Property Advisors, Boston.<\/p>\n<p>The Bangkok Post reported that the building is currently 96 percent occupied and that the buyer is funding the purchase through bank loans.<\/p>\n<p>Located at 1389 Jefferson St., the building was completed in 2011 and is within a three-minute walk of the 12th Street Oakland City Center BART station.<\/p>\n<p>Domain includes studios and one-, two- and three-bedroom apartments averaging about 948 square feet. Unit amenities include floor-to-ceiling glass, full-size washers and dryers, and kitchens with stainless-steel appliances and natural stone countertops.<\/p>\n<p>Community amenities include a sky-deck outdoor terrace with dining area, outdoor kitchen and lounge seating; a 24-hour fitness facility; a yoga studio with Pilates equipment; a bike maintenance workshop; a resident lounge with Wi-Fi access and coffee station; secure podium parking; and valet door-to-door trash and recycling services.<\/p>\n<p>\u201cOakland experienced approximately 13 percent rent growth last year alone,\u201d IPA vice president\/investments Philip Saglimbeni said in a statement. \u201cIn addition to the continually improving local employment fundamentals, various competing properties are now converting to for-sale condominiums. The combination of these factors suggests rental rates will continue to climb throughout the Oakland market.\u201d<\/p>\n<p>Transit-oriented developments \u201care highly sought after by both institutions and large private buyers,\u201d added IPA executive vice president\/investments Stanford Jones.<\/p>\n<p>On a separate matter, The Wall Street Journal reported on Aug. 21 that Land &amp; Houses is considering an offering of up to $600 million in real estate assets. The IPO of the assets, in the form of a property trust, could take place by the fourth quarter, as Land &amp; Houses reportedly is currently in discussions with banks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bangkok-based Land &amp; Houses PCL, Thailand\u2019s largest homebuilder, has purchased Domain, a 264-unit, luxury transit-oriented rental community in Oakland, Calif., for $103 million.<\/p>\n","protected":false},"author":882,"featured_media":1004083469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742],"tags":[],"class_list":["post-1004083464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Thai Company Buys Bay-Area M-F Tower for $103M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/thai-company-buys-bay-area-m-f-tower-for-103m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thai Company Buys Bay-Area M-F Tower for $103M\" \/>\n<meta property=\"og:description\" content=\"Bangkok-based Land &amp; Houses PCL, Thailand\u2019s largest homebuilder, has purchased Domain, a 264-unit, luxury transit-oriented rental community in Oakland, Calif., for $103 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/thai-company-buys-bay-area-m-f-tower-for-103m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-09-12T12:56:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T05:47:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/image007.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"288\" \/>\n\t<meta property=\"og:image:height\" content=\"234\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Thai Company Buys Bay-Area M-F Tower for $103M\",\"datePublished\":\"2013-09-12T12:56:09+00:00\",\"dateModified\":\"2022-12-07T05:47:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/\"},\"wordCount\":321,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/09\\\/image007.jpg\",\"articleSection\":[\"International\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thai-company-buys-bay-area-m-f-tower-for-103m\\\/\",\"name\":\"Thai Company Buys Bay-Area M-F Tower for $103M - 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