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Rent averages are trending downward and employment growth is softening considerably, while both investment and supply are still down
The luxury asset is located in downtown San Jose. Archway Equities and Virtú Investments have acquired an asset in San Jose, Calif.
A big downtown San Jose apartment building has been bought by real estate investors who express optimism about the South Bay's economic prospects despite post-coronavirus uncertainties.
The deal is 2023’s largest SoCal transaction to date. Archway Equities has acquired a Southern California community, The Paseos at Montclair North, from 4914 Olive Street Properties LLC.
Sale of 358-unit Paseos property marks the largest multifamily deal this year in Southern California.