SAN JOSE, CA-A real estate investment trust based in Palo Alto has acquired an apartment complex in San Jose. Essex Property Trust has picked up Willow Lake Apartments for $148 million. The 508-unit apartment complex changed hands for approximately $291,000 per unit.
The multifamily property, located at 1331 Lakeshore Circle, comprises single-, double- and triple-bedroom units. A news release stated that Essex has plans to spend $4.5 million in exterior renovation. For the full story, go to Silicon Valley/San Jose Business Journal .
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