SAN JOSE — In another deal tied to the mega-merger of two real estate firms, Avalon at Cahill Park, on the western edges of downtown San Jose, was bought for just under $102.2 million, documents filed on Aug. 27 with the Santa Clara County Recorder’s Office show.
At 754 The Alameda, the apartment complex built in 2002 includes 218 units and is just a couple of blocks from Diridon Station.
The deal and several other apartment property purchases in the Bay Area are linked to the merger of real estate firms Avalon Bay and Equity Residential, which formed a new company called Vivmark Residential.
San Jose, Campbell, Fremont, Mountain View, Union City, Dublin, and Pacifica are among the cities with apartment complexes involved in the merger, public documents show.
The combined dollar amount for the deals in the Bay Area is at least $911.8 million, records show. At least 2,281 apartment units are involved in the transactions.
At $468,700 per unit, The Avalon at Cahill Park acquisition produced the highest price per unit among the Bay Area properties.
Over the 12 months that ended in March, the average price per unit for completed apartment purchases in the San Jose metro area was $385,000, according to commercial real estate firm Marcus & Millichap.