Theater District apartments sell

A San Mateo-based private real estate investment manager on Monday said it acquired a mixed-use development in downtown Petaluma for $32.5 million, making it the third sizable North Bay mixed-use property the company has purchased in the past year.

JB Matteson, Inc., said it acquired Theatre Square Apartments at 151 Petaluma Blvd. S. and 101 Second St. from Theater District developer Basin Street Properties.

Completed in 2005, the three-story mixed-use development has 99 apartments, 43 of which are loft-style, and 22,250 square feet of street-level commercial and retail space.

“Together with Rafael Town Center and Millworks, we now have a significant assemblage of class A urban apartment properties north of the Golden Gate Bridge,” said John Bellack, president of JB Matteson, in a statement. “Like our other recent North Bay acquisitions, Theater Square Apartments appeals to the lifestyle renters who enjoy walkable downtown amenities and transportation options.”

Theatre Square is the company’s eighth recent acquisition in California.

The commercial portion of Theatre Square is fully leased.

— by Jeff Quackenbush, North Bay Business Journal

Open House at Valley Orchards Sunday

Valley Orchards, a retirement community in Petaluma, is hosting an open house on Sunday, June 29, from 2 to 4 p.m. Interested parties are invited to come take a tour, explore the available apartment models and enjoy refreshments.

Valley Orchards is a family owned and operated business for more that 30 years. It was designed for active individuals to enjoy retirement by providing three meals a day, housekeeping services, transportation and emergency assistance.

Valley Orchards is located at 2100 E. Washington St., in Petaluma. Learn more by calling 778-6030 or visit valleyorchards.com.