
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.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition