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California  + Bay Area  + Apartments  | 

Levin Johnston Team Closes 1031 Sale of San Jose Multifamily

Levin Johnston, the #1 multifamily team nationally within Marcus & Millichap, represented the seller and procured the buyer in the investment sale of Park Plaza, a multifamily property located in San Jose. Executive managing directors Adam Levin and Robert Johnston arranged the transaction. The buyer, a local family partnership, acquired the property as part of a 1031 exchange following the sale of two single-family homes.

“This acquisition enabled the investor to consolidate into a core, stabilized multifamily asset while resetting depreciation and enhancing long-term cash flow,” said Levin. “Through the exchange, the family partnership was able to capitalize on tax advantages, increase scale, and improve operational efficiency in one of Silicon Valley’s most supply-constrained apartment markets.”

Originally built in 1964, Park Plaza is a well-maintained, 16-unit apartment community that benefits from durable renter demand, a range of retail, dining and entertainment options, and strong regional connectivity.

Read More News Stories About: Marcus & Millichap
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Levin Johnston

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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