The deal was finalized last week, but details will have to waitfor the official closing this October because of a confidentialityagreement, says Steven Weilbach, Pacific Property's northernCalifornia regional director, who spoke with GlobeSt.
The two-story buildings are located adjacent to one another atthe intersection of Bascom and Hamilton Streets in west San Jose.One building has slightly more than 100 units, the other slightlyless than 100. Both are fully occupied, says Weilbach.
Pacific Property specializes in buying and modernizing olderapartments. The company plans to put about $10,000 worth of workinto each unit as tenants vacate, but isn't saying how much rentswill rise for the next person because of it.
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