Levin Johnston closes four multifamily transactions in March as San Jose, CA market shows resilience

 

Adam Levin

San Jose, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, announces that it closed four multifamily transactions totaling $7.215 million during March 2023 and reiterates the strength of the San Jose market for multifamily investors. 

“Quite contrary to the doom and gloom one might hear from the news, the San Jose market for multifamily investments is active,” says Adam Levin, Executive Managing Director of Levin Johnston. 

“Thanks to our collaborative approach and expert understanding of the submarkets where we operate, our team closed four multifamily transactions in March, even as the banking crisis in the Bay Area unfolded.”

The closed transactions include:

·         2785 Almaden Road – a 5-unit multifamily asset sold for $2,250,000.

·         2742 Almaden Road – a 5-unit multifamily asset sold for $1,800,000.

·         784 Deland Avenue – a 6-unit multifamily asset sold for $1,590,000.

·         3158 Impala Drive – a 6-unit multifamily asset sold for $1,575,000.

Levin Johnston completed the transactions on behalf of their private investor clients.

"Based on our experience in March we see lenders are open to providing loans, if they are for the right transactions, comments Robert Johnston, Senior Managing Director of Levin Johnston.

Robert Johnston

“Our strong banking and investor relationships, as well as our local market knowledge, provides our team with the ability to adapt quickly to the changing market and make strategic connections to ensure transaction success,” says Johnston.

“Despite recent market uncertainty, there is capital available for multifamily borrowers in resilient markets like San Jose.”

Contacts: 

 

Hanna Kokuashvili / Kiera Moran

The Smart Agency, Inc.

(949) 438-6262

hkokuashvili@thesmartagency.com

www.levinjohnston.com