DWS has sold Summerwood Apartments, a 468-unit multifamily property located at 444 Saratoga Avenue in Santa Clara, Calif. The sales price was more than $203 million.
The buyer was Interstate Equities Corp., a local real estate investment and management firm that primarily operates throughout California and Seattle.
“IEC is excited to announce the acquisition of Summerwood Apartments, our first major investment in Silicon Valley since 2019,” said Brendan Gibney, director of investments at IEC. “The asset’s strong leasing performance, combined with Santa Clara’s improving market conditions, positions it as a valuable addition to our growing portfolio. IEC would like to thank the IPA platform for its help in sourcing the opportunity and securing financing, especially during this period of interest rate volatility.”
The property is located near Downtown Santa Clara and features a mix of one- and two-bedroom garden-style apartments. On-site amenities incl
