JRK Investors Inc Acquires Duo Apartments Complex For $93.5M In South San Jose

JRK Investors Inc. has acquired the 301-unit Duo Apartments complex in South San Jose for $93.5 million from Fairfield Residential Company LLC. The property, located at 6670 Emergent Way and 6520 Gamma Way, is a multifamily asset. The sale price translates to a per unit price of $310,631. The transaction took place on 08/17/2023 in the South San Jose market.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $93,500,000
• Units: 301
• Price Per Unit: $310,631

The buyer, JRK Investors Inc, was represented by Gibson, Dunn & Crutcher LLP. The seller, Fairfield Residential Company LLC, was represented by Meltzer, Purtill & Steele LLC. This marks Fairfield's third high-value sale of a Silicon Valley property in recent years. The agreement also includes a restriction on converting the units into condominiums.