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SAN JOSE, CA-Two Bay Area apartment complexes have traded for an aggregate of $69 million in two separate deals recently. BRE Properties, an apartment REIT based in San Francisco, bought the 226-unit Fountains at River Oaks apartments in San Jose for $50.3 million; in San Mateoa a 135-unit seniors project called FountainGlen at the Villa has sold for $18.75 million.

BRE assumed an existing $32.5 million mortgage that bears interest at 5.74% and matures in 2019 in its acquisition of the Fountains at River Oaks. The property, which was built in 1990, comprises 24 garden-style two- and three-story wood-framed buildings on 8.18 acres.

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