Cushman & Wakefield has facilitated the sale and debt financing for Vespaio, a multifamily community in central San José, California.

The 162-unit Class A property, situated at 130 Stockton Ave, offers a highly amenitized living experience in the heart of Silicon Valley. The seven-story complex, completed in 2020, spans approximately 164,511 square feet of residential space and 32,307 square feet of commercial area on 1.72 acres.

The strategic location of Vespaio, adjacent to the central business district, provides residents with easy access to numerous retail outlets, restaurants, entertainment venues, and major corporate offices. The property is in close proximity to the planned Google Downtown West campus and Diridon Station, a major transit hub. The vibrant community was acquired by the joint venture of Windy Hill Property Ventures and Rockwood Capital for US $83.5 million, reflecting the strong value of the asset.

Cushman & Wakefield’s Multifamily Advisory Group in Northern California, including Executive Managing Director Jason Parr, Senior Director Scott MacDonald, Executive Managing Director Seth Siegel and colleagues John Hansen, Sydney Ladrech, and Brayden Joel represented the seller, Hudson Companies, while Terry Daly and Dan McLeod from Cushman & Wakefield’s Equity Debt Structured Financing (EDSF) team in San Francisco arranged the debt acquisition financing for the buyer.

Parr describes Vespaio as “a strong-performing, best-in-class apartment community with a centralized Silicon Valley location.” He highlights a robust rental market, increasing rents and low vacancy rates, and positive employment growth in the San Jose-Sunnyvale-Santa Clara Metro Area.

The LEED Gold Certified property offers spacious floor plans and an array of top-notch amenities, including a resort-style pool and spa, clubhouse, fitness center, billiards lounge, co-working space, BBQ area, solar array, garage parking with EV charging stations, and over 30,000 square feet of creative office and retail space.