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San Benito Apartments' rents were 40% below market, and this off-market transaction was made possible due to an offer that included an initial non-refundable earnest money deposit and expedited feasibility period.
CityPlace is a 60-acre mixed-use development that, when fully developed, will include 4 million square feet of class-A office space with 400,000 square feet of retail space, a Marriott hotel and multifamily.
Leases 35 years or longer could trigger property tax reassessments, but Gary Glick of Cox, Castle & Nicholson LLP has advice on how to avoid triggering a reassessment.