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December 18, 2019  

Builder Pitching Oakland Apartments

A developer is marketing a nearly completed apartment complex in an opportunity zone in Oakland.The 110-unit building, at 532 Union Street, is expected to fetch bids of up to $60 million, or $545,000/unit. Eastdil Secured is representing the owner, Holliday Development of Emeryville, Calif.The marketing pitch is that a buyer could complete a purchase before a temporary certificate of occupancy is issued, thereby qualifying for tax incentives...

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