Eric Rosenthal Of Machine Investment Group Acquires Multifamily Complex From Beichuan Zhou For $181.9M

The transaction involved a multifamily asset located at 188 West Saint James Street in the San Jose market. The property consists of two 22-story residential towers and comprises 643 units, with a sale price of $181,900,000. The price per unit for this asset is $282,893.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $181,900,000
• Buyer: Eric Rosenthal - Machine Investment Group
• Seller: Beichuan Zhou - Z&L Properties
• Lender: Mack Real Estate
• Units: 643
• Price Per Unit: $282,893
• Financing: $215 million loan from Benefit Street Partners
• Previous Loan Default: $330 million loan from Mack Real Estate

Eric Rosenthal represents Machine Investment Group in this transaction, while Beichuan Zhou represents Z&L Properties. The acquisition occurred through a deed-in-lieu of foreclosure, following Z&L Properties' default on their prior loan agreement.