JLL Capital Markets closed on the sales of three value-add, garden-style multifamily assets in Silicon Valley for a total of approximately $70 million. The portfolio included the 72-unit Appletree in Campbell and the 68-unit Vista Pointe and 50-unit Cedartree in Santa Clara. JLL worked on behalf of a private seller to procure three unique buyers.
The properties offer value add potential due to their proximity to US 101, I 880 and I 280 providing immediate access to all areas within Bay Area as well as its continually expanding public transit system.
Led by senior managing directors Ryan Wagner, Brandon Geraldo and Matt Kroger, JLL Capital Markets Investment Sales & Advisory team represented the seller throughout this process which proved that despite market fluctuations & choppy debt markets there is still ample liquidity among investors for well priced high quality multi housing assets with institutional core funds waiting for more data points before becoming active while middle market & private equity investors have been most active over last 6 – 9 months .
