October 11, 2019 – JLL announced today that it has closed the $103.8 million sale of LINQ, a 230-unit, transit-oriented luxury apartment community in the San Francisco Bay Area community of San Jose, California.
JLL marketed the property exclusively on behalf of the seller, a partnership between Republic Urban Properties LLC and The Core Companies, and procured the buyer, Stockbridge, on behalf of the firm’s Value Fund III, a closed-end, value-add vehicle.
LINQ is located at 1700 Newbury Park Drive less than a half mile from the future Berryessa BART station. The property is less than 10 minutes from downtown San Jose, where more than 10 million square feet of commercial space is expected to deliver in the next 10 years. First-class amenities at the community include a resort-style pool and spa, state-of-the-art fitness center, yoga center, outdoor courtyard with grilling stations and a 7,400-square-foot Skydeck with 360-degree views of the Silicon Valley. Floor plans include a variety of studio, one- and two-bedroom options averaging 818 square feet with features, including stainless-steel appliances, plank flooring, in-unit washers and dryers and personal balconies. In addition, the property encompasses more than 11,000 square feet of ground-floor retail, which is 100% occupied.
The JLL Capital Markets team representing the seller included Managing Director Scott Bales, Director Peter Yorck and Analyst Nolan Moore.