Alterra Alterra
144-unit Multifamily Redevelopment
San Jose, CA

Investment Background: Acquisition and redevelopment of a 144 unit class-B asset built in 1988 in San Jose, CA. The transaction closed in 2011. The property was acquired from the original developer.

Product Type: Garden apartments

Location: San Jose, 2 miles south of the CBD.

Attributes: Off-market transaction, opportunity for rehab, strong market operating fundamentals, housing affordability gap, and job growth.