SAN JOSE, CA-Pacific Urban Residential, formerly Pacific Property Co., in partnership with a “strategic investor” has acquired Livorno Square Apartments here. Constructed as a 50-unit for sale luxury condominium complex, the Livorno Square condominiums was completed just as the bottom fell out of the residential market. 

Although further details such as acquisition price etc. could not be disclosed to GlobeSt.com at this time, we learn that the owner of the community stopped selling the condos and started renting the units as apartments. Todd Vitzthum, Rawley Nielsen and Simon Herrmann of CBRE represented the transaction.

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