SAN JOSE, CALIF. – Zurich Alternative Asset Management (ZAAM) has purchased a 174-unit apartment building called 121 Tasman in San Jose for $86.7 million. The transit-oriented community resides within the Golden Triangle area of Silicon Valley.
The property was built in 2013. It was 95 percent leased by this past April.
ZAAM is the alternative investment advisor to Zurich North America (Zurich) and its affiliates. The company is responsible for the group’s hedge fund, private equity and U.S. real estate investments.
The ZAAM team representing the buyer was led by managing director Sean Bannon and director Chris Edgar. The seller, a joint venture between LCOR Ventures LLC and Cigna Realty Investors, was represented by Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of Institutional Property Advisors.