Angela Kleiman Of Essex Property Trust Acquires Multifamily Assets In Campbell For $240.5M

The transaction involves the sale of two multifamily apartment complexes located at 215 Union Avenue and 1725 South Bascom Avenue in Campbell. The total sale price of the properties was $240,500,000, which encompasses 420 units, resulting in a price per unit of $572,619.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $240,500,000
• Buyer: Angela Kleiman - Essex Property Trust
• Seller: James F. Ellis & Melinda Ellis Evers - Ellis Partners; Drew McKnight & Joshua Pack - Fortress Investment Group
• Units: 420
• Price Per Unit: $572,619
• Date of Transaction: 05/12/2025
• Market: Campbell

Essex Property Trust made this acquisition as part of their strategy to shift focus to Northern California. The properties, Parc at Pruneyard and Revere Campbell, were secured for $122.5 million and $118 million respectively, with the funding facilitated through recent sales of properties in Southern California.