Three San Jose apartment complexes encompassing 415 units have been acquired by Irvine-based FPA Multifamily in a deal totaling $135M.

FPA bought the 220-unit Sierrabrook, located a 1265 N. Capitol Avenue for $74.2M, which translates into $245K per unit. Rents at the community, which was built in 1973, range from $2,250 to $2,750 a month.

Jack Rogers

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