Stanford University has acquired the Oak Creek Apartments, a 759-unit complex adjacent to the 700-acre Stanford Research Park in Palo Alto, in transactions including the ground lease and a loan for the property.
The university, acting through an affiliate, reacquired the ground lease on the property and took over a $125M loan from sellers San Francisco-based Marena Properties and Woodside-based Pivnicka Properties.
The two companies acquired the multifamily campus, which includes several three-story apartment buildings, in 2015. Terms for Stanford's acquisition of the ground lease were not disclosed.
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