Silicon Valley Apartment Asset Sold by IPA for $110M
Foundry Commons, a recently-constructed, 238-unit, luxury apartment complex in San Jose, CA, sold for $110.25 million. The buyer was Tilden Properties, while the seller was CityView.
Tilden Properties’ Jeff Tripaldi says, “The number of potential new jobs and additional office space that Google’s proposed campus is slated to bring will greatly impact the area around Foundry Commons.”
Completed in 2016, the property features well-appointed interior finishes and extensive common area amenities, highlighted by an expansive common area courtyard with an outdoor kitchen, lounge area with gas fire pit, sports courts and a resort-style swimming pool.
IPA’s Salvatore Saglimbeni, Stanford Jones, Phil Saglimbeni, Greg Harris, Kevin Green and Joseph Grabiec represented the seller.
Saglimbeni says, “Located just south of downtown San Jose, Foundry Commons provides residents immediate access to major employers, public transportation and excellent retail, dining and entertainment venues.”
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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