SAN JOSE, CA-Pacific Urban Residential, formerly Pacific Property Co., in partnership with a “strategic investor” has acquired Livorno Square Apartments here. Constructed as a 50-unit for sale luxury condominium complex, the Livorno Square condominiums was completed just as the bottom fell out of the residential market.
Although further details such as acquisition price etc. could not be disclosed to GlobeSt.com at this time, we learn that the owner of the community stopped selling the condos and started renting the units as apartments. Todd Vitzthum, Rawley Nielsen and Simon Herrmann of CBRE represented the transaction.
Livorno Square Apartment Homes is a luxury rental apartment community, located in the Silicon Valley rental market. The property is situated within walking distance of the high end Santana Row shopping center and is proximate to the center of the area’s technology employment base. Property amenities include a resort quality swimming pool, barbecue area, fitness center and subterranean secured parking. Apartment homes feature granite countertops, stainless steel appliances and oversized windows.
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