Sridhar Equities acquires significant asset in downtown San Jose

MATT SRIDHAR’S TEAM PAYS $360K/UNIT FOR SAN JOSE APARTMENT COMMONS

Sridhar Equities purchased Lakewood Court Apartments

Jan 22nd, 2019

San Jose, CA – Sridhar Equities, one of the top multifamily brokerage teams in the Bay Area with an emphasis on West Coast multifamily & commercial real estate investments, has completed $17.28 million purchase of Lakewood Court Apartments, a 48-unit multifamily asset in San Jose, California. The property is located in downtown San Jose in close proximity to I-680 and I-880, providing key access to both San Jose and Oakland International Airports, and to local VTA light rail stations & Caltrain.

Lakewood Court Apartments was built in 1988 and sits on 1.64 acres. The apartment community offers one- & two-bedroom pet-friendly units, as well as assigned garage parking and a community pool & spa. Located at 1953 Via Reggio Court in San Jose, California, the property is in close proximity to schools, outdoor recreation, shopping and dining.

A small team at Marcus and Millichap represented both the buyer, Sridhar Equities, and the seller, a private family. Matt Sridhar, Sridhar Equities CEO, said in a statement to CoStar for their coverage of the purchase, “The Via Reggio acquisition further demonstrates our commitment to providing quality housing in the San Jose market”.

The asset is located in the heart of Silicon Valley, a prime rental location for the commuter lifestyle of the tech industry renters. Based on the property’s favorable location, good condition, and below market rents with no rent control, we were able to achieve a strong market cap rate of 5.32 percent.

The property purchase signals yet another key purchase made by the Sridhar Team. Read about more of their recent successful purchases and investments in the Press section of this site.

For more information, please contact Dan Saltzman at (408) 365-4911, email via pr@sridharequities.com, or visit the Sridhar Equities website at sridharequities.com to learn more about the Sridhar Team investments. You can also read more about Matt Sridhar by visiting his website at mattsridhar.com.