A big Santa Clara apartment complex has been bought for more than $50 million by investors in a deal that indicates ongoing interest in the region’s residential real estate market despite eco…
SANTA CLARA — A big Santa Clara apartment complex has been bought for more than $50 million by investors in a deal that indicates ongoing interest in the Bay Area residential real estate market despite economic uncertainties.
Palo Alto-based Pacific Urban also obtained a $31.8 million loan from Comerica Bank at the time of the apartment purchase, according to the county documents. — On Oct. 7, a group linked to Zurich asset management paid $53 million for the 93-unit Santana Terrace apartment complex in Santa Clara. — In August 2022, an 18-story, 178-unit apartment tower near downtown Oakland was bought by FPA Multifamily for $55.5 million.
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