JB Matteson, Inc., a San Mateo-based private real estate investment manager, today announced the acquisition for $32.5 million of Theatre Square Apartments, a mixed-use property at Petaluma Blvd. South and Second Street in downtown Petaluma.
Completed in 2005, Theatre Square Apartments is a three-story mixed-use development featuring a total of 99 apartments, 43 of which are loft-style, in addition to 22,250 square feet of ground level commercial/retail space.
The seller was Basin Street Properties, the original developer of the property.
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Seth Siegel of Cushman & Wakefield represented the seller in the transaction.
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