Essex Property Trust Snaps Up South Bay Apartment Complexes
Essex Property Trust has picked up two new apartment complexes in separate deals in Campbell for a combined $240.5 million.The San Mateo-based real estate investment trust bought the 252-unit Parc at Pruneyard at 215 Union Avenue and the 168-unit Revere Campbell at 1725 South Bascom Avenue, the San Jose Mercury News reported.San Francisco-based Ellis Partners and New York-based Fortress Investment Group sold the Parc for $122.5 million, or $486,111 per unit.Essex paid an undisclosed seller $118 million, or $702,380 per unit, for the Revere Campbell. The sales prices could be a...