Two real estate firms have teamed up to buy a huge chunk of East Bay land that is being eyed for housing development.
DUBLIN — Two real estate firms have teamed up to buy a huge chunk of East Bay land that is being eyed as the site of a large housing development in eastern Dublin consisting of several hundred residences.
Croak Properties, an affiliate of the Croak family that had owned the property, sold the land to an affiliate of Trumark Homes for $164 million. Trumark then immediately sold the 162 acres to an affiliate of Arroyo Capital for $140.6 million. Irvine-based Arroyo Capital touts a business model that enables it to buy stakes in residential projects nationwide, according to a post on the company’s website.Arroyo Capital has bought stakes in several Bay Area residential projects besides this one in eastern Dublin. The company is involved with projects in Fremont, Newark, Antioch, Vacaville and the Mountain House village in San Joaquin County.
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