1500 Newlands Drive | A Multi-Generational Exit, Handled Off-Market with Care

1500 Newlands Drive in Burlingame wasn’t just a 20-unit apartment building, it was the product of a multi-family partnership that dated back decades. Developed and held by three families, the property had since passed to the second generation, with more than 15 individual owners. After years of joint ownership, the group reached a consensus: it was time to sell.

But they didn’t want a public process.

Having maintained a relationship with the ownership group over several years, we were well positioned to step in. We understood their priorities: discretion, certainty, and respect for legacy. Rather than bringing the property to market, we presented a solution through a repeat client—a capable, all-cash buyer who grew up in the area, knew the block, and recognized the building’s potential despite its dated interiors and under-market rents.

The property was extremely well built, in a prime downtown Burlingame location, and despite the deferred maintenance, the fundamentals were compelling. The result: a quiet, strategic close which was the largest apartment sale in Downtown Burlingame that year.

For the sellers, it was more than a strong result. It was a clean, respectful transition guided by a team that understood the emotional and financial complexities of a generational exit.

At the Caravelli Group, we specialize in solving exactly this: multi-owner situations, off-market strategies, and legacy assets that deserve more than just a listing.