Ethos Real Estate Purchases 148-Unit Apartment Complex From Interstate Equities For $67.7M In Sunnyvale

The transaction involved a multifamily asset located at 1180 Lochinvar Avenue in Sunnyvale, which consists of 148 apartment units. The sale price was $67.7 million, equating to approximately $457,100 per unit. The financing for the deal included $50 million sourced from an affiliate of BrightSpire Capital.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $67,700,000
• Address: 1180 Lochinvar Avenue
• Market: Sunnyvale
• Units: 148
• Price Per Unit: $457,432
• Buyer: Adam Siegman - Ethos Real Estate
• Seller: Marshall Boyd - Interstate Equities
• Lender: BrightSpire Capital

Ethos Real Estate completed the acquisition of The Crossings from Interstate Equities. This transaction reflects a continuous recovery trend in the Silicon Valley multifamily market, particularly near significant employment centers like Apple.