The Roxborough Group Buys 246-Unit Bidwell Park in Fremont for $109.4 Million

Affiliates of The Roxborough Group, LLC have acquired Bidwell Park, a 246-unit apartment community in Fremont, California, for $109.4 million, the San Francisco-based firm announced Oct. 29, 2026.

The property, located at 39800 Fremont Boulevard, is 95% occupied. Newmark Group, Inc. facilitated the assumption of the existing financing and the placement of supplemental financing. Sares-Regis Group will provide property management services, and Institutional Property Advisors represented the seller.

Deal Details for Bidwell Park in Fremont

The $109.4 million price equates to approximately $444,715 per unit. Documents for the sale were filed Oct. 20, 2026, and the seller was Pacific Urban Investors.

Bidwell Park offers a mix of two- and three-bedroom units, 80% of which have two bathrooms. Community amenities include a renovated clubhouse, a gym, a pool with an oversized deck and an outdoor grilling station. Units have in-unit washers and dryers and air conditioning.

The acquisition is Roxborough's second multifamily purchase in Northern California within Roxborough Fund III, L.P., a $518 million discretionary fund focused on opportunistic and value-add investments. Roxborough's first Northern California multifamily investment in the fund was the 243-unit Union Flats in Union City, which Roxborough and Camden Pacific Partners bought in 2025 for $81.6 million, or about $335,800 per unit. Bidwell Park's per-unit price is about 32% higher. Roxborough's portfolio includes more than 3,000 rental housing units across its active investment funds.

Roxborough's Strategy and Michael Pence's Comments

"The acquisition of Bidwell Park aligns with Roxborough's strategy of acquiring infill apartment communities at significant discounts to replacement cost in markets with high barriers to entry and increasing demand," said Michael Pence, head of multifamily acquisitions at Roxborough.

Pence described Fremont as "a city widely celebrated for its top-tier schools, family-friendly community and significant industrial and advanced manufacturing footprint." He said Bidwell Park offers access to jobs across the East Bay, Silicon Valley and the Peninsula, and that residents have access to two BART stations with a direct connection to Oakland and San Francisco.

Roxborough said no market-rate apartment communities are under construction in Fremont and that it believes the high cost of new residential development provides Bidwell Park with a buffer against competition. The firm added that, with no new supply and concessions evaporating, the Fremont rental market has delivered strong operating performance.

Pricing and Market Context in the East Bay

The per-unit price is roughly 65% above the East Bay's average apartment sale price of about $270,000 per unit in the first quarter of 2026, according to Marcus & Millichap data. The difference likely reflects Bidwell Park's location, occupancy, larger floor plans and access to employment centers and transit rather than a market-wide valuation benchmark.

Bay Area multifamily vacancy stood at 3.8% in the third quarter, down from 4.0% in the second quarter and 4.8% a year earlier, according to Kidder Mathews data. The broader Bay Area had 19,156 multifamily units under construction in the third quarter, up 28% year over year; that regional figure differs from Fremont's local pipeline, where Roxborough said no market-rate communities are under construction. Market commentary has projected that vacancy will decline faster in 2026 than in 2025 because of limited construction and consistent renter demand.

About The Roxborough Group

The Roxborough Group is a San Francisco-based real estate investment group that targets dynamic markets with durable economic drivers and strong demographic tailwinds. The firm describes its approach as disciplined, thematic and research-driven, investing directly and through partnerships with experienced operators across value-add, opportunistic and longer-duration strategies.

Sources

The Roxborough Group press release: https://www.theroxboroughgroup.com/news/press-releases/the-roxborough-group-closes-on-109-4-million-acquisition-of-246-unit-apartment-community-in-fremont-california/