Hines Global Income Trust Acquires Diridon West Luxury Apartments In San Jose For $117.5M

Hines Global Income Trust has purchased the 249-unit luxury apartment complex, Diridon West, in San Jose for $117.5 million. The property, originally developed by the Hanover Company, offers ground-floor retail space and is strategically located near Silicon Valley landmarks, with 95% occupancy.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $117,500,000
• Units: 249
• Price Per Unit: $471,888
• Address: 715 West Julian Street, San Jose
• Market: San Jose

The buyer in the transaction was Alfonso Munk from Hines Global Income Trust, while the seller was Brandt Bowden from the Hanover Company. Alfonso Munk represented Hines Global Income Trust as their broker in this deal.