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Three properties in Redwood City, California, sell for $188 million

Apartment complex declines more than 13% in value from last transaction

Completed in 2015, Franklin 299 sold for more than $185 million, a roughly 13% discount to when the property last sold in 2016. (CoStar)
Completed in 2015, Franklin 299 sold for more than $185 million, a roughly 13% discount to when the property last sold in 2016. (CoStar)

A portfolio of three properties in Redwood City, California, has traded hands in the area’s largest sale of the year as a surge of new apartment openings drives up vacancy rates in the city.

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