Keith Gelb Of Rockpoint Group Acquires 448-Unit Villages At Cupertino For $207.2M From Koret Foundation

The property involved in the transaction is a 27-acre multifamily asset located at 20875 Valley Green Drive in Cupertino. It was sold for $207.2 million and comprises 448 units with a price per unit of $462,500. The multifamily property includes 47 garden-style buildings and is situated near downtown San Jose.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $207,200,000
• Buyer: Keith Gelb - Rockpoint Group
• Seller: Jeffrey A. Farber - Koret Foundation
• Lender: Husky Finco
• Units: 448
• Acres: 27
• PPU: $462,500

Keith Gelb from Rockpoint Group acquired the 448-unit Villages at Cupertino from Jeffrey A. Farber, representing the Koret Foundation. The financing for this acquisition included a loan of $182.1 million from Husky Finco. The property was rebranded in 2023 following a merger.