PALO ALTO, CA-Wells Fargo & Co. is all set to sell 1,800 rental units in East Palo Alto. The properties were acquired by Wachovia when Page Mill Properties failed to repay its $250 million mortgage. Wells Fargo is now the owner of Wachovia. The 1,800 rental units account for over 50% of rental properties in the East Palo Alto region.
Prime Residential, Equity Residential and AREA Property Partners are in the final bidding for the assets. For the full story, go to San Francisco Business Times .
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