Levin Johnston of Marcus & Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, announces it has acquired a second Bay Area in office in San Carlos, California, to accompany its existing owned office in Los Altos, California.
In addition, the team increased the annual number of deals it closed in 2024 by more than 50 percent, facilitating 80 transactions this past year as compared to 50 in 2023.
“The purchase of our San Carlos office highlights our team’s deep integration in this geographical market and projections for activity ahead in the region,” notes Levin. “While the economic landscape has presented challenges for the industry, Levin Johnston has thrived over the last two years and sees a bright future on the horizon. The new office will allow us to better serve our clients and continue to be a market leader in Northern California. This expansion also sets a foundation to continue to grow our footprint outside the region as well.”
Additionally, to further an existing presence in Los Altos, a region where multifamily rental rates are trending up while vacancies are declining, Levin’s TayCon Properties has also purchased a property that is home to the Los Altos Town Crier and a restaurant in the city.
“By owning multiple properties in this market, we are demonstrating that we are truly committed to what lies ahead for this area and experiences of current and future residents,” notes Levin. “This also enables us to execute for our clients with increased understanding and certainty.”
In addition to the San Carlos and Los Altos offices, the team also has a presence in San Francisco and Palo Alto through Marcus & Millichap’s offices in those cities and is looking to add additional offices in Monterey County, the East Bay’s Piedmont area, San Francisco, and potentially Sacramento.
Levin Johnston’s ability to execute regardless of industry dynamics has enabled it to build on its accomplishments and close a considerably higher number of transactions in 2024 than it did in 2023, says Robert Johnston, Senior Managing Director of Levin Johnston.
“While most multifamily brokers closed less than 10 deals this year due to strict lender underwriting and an uncertain investment climate, our team was able to complete many more transactions due to our extensive experience, wide network, and long-term view of wealth creation for our high-net-worth and institutional investor clients,” says Johnston. “Our outlook for 2025 is one of continued expansion as the market moves further into recovery.”
Among the most noteworthy deals the team closed in 2024 on behalf of its private investor clients are two recent transactions in Alameda County, California: the sale of Vista Del Sol, a 73-unit apartment community in Pleasanton, for $21.1 million and the sale of Islander Apartments, a 38-unit multifamily community in Alameda, for $12.9 million.
“Completing these two transactions demonstrates multifamily investors’ interest in Alameda County, our in-depth knowledge of the market, and the breadth of our relationships with both buyers and sellers in the region,” says Johnston.
In other growth moves, Levin Johnston has launched a capital corporation and has added a self-storage expert to its team this year.
“Our team is seizing the opportunity to better serve a strong market that is on the rise,” concludes Levin. “We look forward to continuing this momentum throughout the Bay Area in 2025.”
Levin
