Vivmark Residential Acquires California Multifamily Portfolio for $742M
The new apartments add approximately 1,843 units to the Vivmark portfolio, which spans more than 180,000 units across the country
By Brian Pascus August 27, 2026 12:58 pm
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Following a generational merger, the largest apartment real estate investment trust (REIT) in the business just got a little bit bigger.
Days after AvalonBay Communities and Equity Residential completed their $71 billion merger — the largest merger of publicly traded REITs in history — the new firm, Vivmark Residential, has acquired seven apartment complexes in Northern California near San Francisco, totaling more than 1,800 units, in several transactions totaling $741.8 million.
Mercury News first reported the sales to Vivmark Residential, a public entity that now boasts a portfolio in excess of 180,000 rental apartment units.
The acquisitions are spread out over seven deals.
Vivmark acquired Avalon Campbell, a 348-unit complex at 508 Railway Avenue in Campbell, Calif., for $147.3 million; Avalon Towers on the Peninsula, a 238-unit complex at 2400 West El Camino Real in Mountain View, Calif., for $140.4 million; Avalon Fremont, a 308-unit complex at 39939 Stevenson Common in Fremont, Calif., for $124.3 million; Eaves Creekside, a 300-unit apartment at 151 Calderon Avenue in Mountain View, Calif., for $117.3 million; Eaves Fremont, a 237-unit complex at 231 Woodcreek Common in Fremont for $88.9 million; Eaves Dublin, a 204-unit apartment at 7904 Fall Creek Road in Dublin, Calif., for $64.6 million; and Eaves Union City, a 208-unit complex at 2175 Decoto Road in Union City, Calif., for $59.1 million.
Brad Dillman, founder and principal of Florey Street Advisors, told CO after the merger was announced that both AvalonBay and Equity had “enormous coastal exposure across both firms,” and that “they overlap in like 95 percent of their geographies.”
The move to buy seven buildings in the Northern California Bay Area emphasizes that coastal thesis.
“Either group might have merged with Camden [Property Trust], which has Sun Belt exposure,” said Dillman. “But they decided to double down on the coasts.”
Vivmark Residential did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialosberver.com.
