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San Jose Apartment Deal Hits $122M | California News
Description
A sleek 268-unit apartment complex in San Jose’s Midtown, dubbed “Silver,” just sold for $122.3 million in all-cash deal—$456K per unit—setting a new benchmark in the booming local rental market. Bought by Carmel Partners from Essex Property Trust, the 2019-built property reflects soaring demand as vacancy rates could plunge to a 25-year low by 2026. With construction lagging and rents climbing, now’s the time to invest.
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