SAN JOSE, CA—Zurich Alternative Asset Management LLC, the alternative investment advisor to Zurich North America and its affiliates, responsible for the group’s hedge fund, private equity and US real estate investments, has purchase an asset here for $86.7 million. The sale of the property, 121 Tasman, a 174-unit, market rate transit-oriented apartment community located in the “Golden Triangle” area of Silicon Valley, equated to $498,000 per unit.

Institutional Property Advisors, a division of Marcus & Millichap, executive vice president Stanford Jones and IPA first vice presidents Philip Saglimbeni and Salvatore Saglimbeni advised the seller, a joint venture between developer LCOR Ventures LLC and Cigna Realty Investors.

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