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Cityview, Greystar Divest Mountain View Apartments for Reported $101M
Cityview and Greystar said Thursday they had sold Elan Mountain View, a 164-unit mixed-use apartment property the two companies developed between 2016 and 2018. They did not specify a sale price or identify the buyer; however, the Mercury News and other sources reported that Essex Property Trust paid $101 million to acquire the property, which has been rebranded as ARLO Mountain View.
“With its ideal location, ample amenities and unique retail offerings, Elan Mountain View has been extremely well received by residents and the surrounding community,” said Sean Burton, CEO of Cityview. “It’s been a pleasure to partner with Greystar on this property and we look forward to seeing its continued success.”
Located at 1030 Castro St. in Mountain View, the property is within a three-mile radius of major Bay Area employers including Google, Microsoft and Intuit. It features a mix of one- to three-bedroom apartments along with 11,000 square feet of fully occupied ground-floor retail. Current onsite retailers include Rose International Market, Mr. Sun, Le’s Alterations, Tanya’s Hair Design and Oh! Honey Macaron.
- ◦Sale/Acquisition
