AFL-CIO Building Investment Trust Sells 347-Unit Centerra Apartments in San Jose

by Amy Works

SAN JOSE, CALIF. — AFL-CIO Building Investment Trust, advised by PNC Realty Investors, has completed the disposition of Centerra Apartments, a residential tower in San Jose. The name of the seller and acquisition price were not released.

Located at 77 N. Almaden Ave., the 21-story Centerra Apartments features 325,169 square feet of residential space and 7,000 square feet of retail space. The 347-unit property offers a mix of one-, two- and three-bedroom apartments, including townhomes, live-work units, lofts and junior units. On-site amenities include a pool, spa, integrated parking structure, media lounge with bar and fireplace, fitness center, outdoor gathering spaces, conference center and game room.

Scott Bales of Newmark represented the seller in the deal. Ramsey Daya and Chris Moritz of Newmark arranged acquisition financing for the undisclosed buyer.

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