Windy Hill Property Ventures and Rockwood Capital have acquired the Vespaio building in downtown San Jose for $83.5 million. The mixed-use property, located at 130 Stockton Avenue, features a total of 162 units. The sale price translates to approximately $515,432 per unit.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $83,500,000
• Address: 130 Stockton Avenue, San Jose
• Market: San Jose

The buyer, Windy Hill Property Ventures and Rockwood Capital, intends to potentially convert certain spaces within the Vespaio building into live/work units while maintaining high residential occupancy rates. The joint venture's acquisition of the property was facilitated by the brokers Jason Parr, Scott MacDonald, Seth Siegel, John Hansen, Sydney Ladrech, Brayden Joel, Terry Daly, and Dan McLeod from Cushman & Wakefield.