Ron Zeff Of Carmel Partners Acquires 268-Unit Multifamily Complex For $122 Million In San Jose

The multifamily asset involved in this transaction is the Silver apartment complex, located at 333 Sunol Street in San Jose, CA. It comprises 268 units and was sold for a transaction amount of $122 million, which translates to approximately $455,224 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $122,000,000
• Units: 268
• Price Per Unit: $455,224
• Buyer: Ron Zeff - Carmel Partners
• Seller: Angela Kleiman - Essex Property Trust

The deal reflects a noteworthy acquisition, with Ron Zeff representing Carmel Partners in securing the property from Angela Kleiman, who represented Essex Property Trust. The transaction indicates a strategic move in response to the strong demand for multifamily housing in Northern California, fueled by limited housing supply and growth in the tech sector.