South Carolina-based developer Greystar and Los Angeles-based developer Cityview sold a 164-unit apartment complex to Essex Property Trust for $101 million on May 17, property records on file at the Santa Clara County Assessor’s Office show. Both entities worked through an affiliate in the transaction.
ARLO Mountain View, located at 1030 Castro St., has 11,000 square feet of ground floor retail, and studio, one-, two- and three-bedroom floor plans.
“With its ideal location, ample amenities and unique retail offerings, Elan Mountain View has been extremely well received by residents and the surrounding community,” said Sean Burton, CEO of Cityview, in a press release. “It’s been a pleasure to partner with Greystar on this property and we look forward to seeing its continued success.”
Essex Property Trust, a San Mateo-based real estate investment trust, did not respond to requests for comment in time for publication.
Cityview and Greystar broke ground on the development in 2016 and completed construction in 2018. The property also features amenities like private balconies and patios, fitness center, a club room and private business center.
Prices start at $3,618 per month for studio units and reach $6,157 per month for three-bedroom units, according to Essex’s website.
Cityview recently started leasing its massive apartment project Portico at Brooklyn Basin, which includes more than 370 units and rises eight stories. Signature Development is behind the massive $2 million redevelopment project along Oakland’s waterfront, where it hopes to build 3,700 homes and 200,000 square feet of office and retail space.
