BERKELEY — The Dwight apartment complex in downtown Berkeley was bought by an East Bay real estate investment firm that seeks to create affordable housing for the region’s workforce.

An affiliate of Riaz Capital paid $37.8 million for the seven-story building at 2121 Dwight Way, according to documents filed on Sept. 5 with the Alameda County Recorder’s Office.

The purchase price was about 20% below the property’s value in January, as calculated by the Alameda County Assessor’s Office.

The deal fits a pattern of weakening real estate values for East Bay apartments , including Oakland and Berkeley multifamily housing properties. The price paid per unit is in line with other recent purchases. The Dwight, which has 99-units, was bought for $381,600 a unit.

The East Bay apartment mark

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