Joseph Michaels Of Las Palmas Housing And Paul Odland Of Belveron Partners Acquire Santa Clara Multifamily For $51.7M

A 114-unit multifamily property located at 3760-3765 Tamarack Lane in Santa Clara was sold for $51.7 million on December 23, 2025. The asset features amenities including a pool and fitness center, and is part of a transaction focused on affordable housing. The property, known as Montecito Apartments, is 55 years old and has a price per unit of $453,509.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $51,700,000
• Units: 114
• Buyer: Joseph Michaels - Las Palmas Housing; Paul Odland - Belveron Partners
• Seller: Alfred Pace - Pacific Urban Investors

The buyers, Joseph Michaels and Paul Odland, represent Las Palmas Housing and Belveron Partners, respectively, while the seller, Alfred Pace, represented Pacific Urban Investors. This transaction marks a significant move towards enhancing affordable housing options in the region.