EMERALD GLEN CONDOMINIUM HOMES IN SAN JOSE SELLS FOR $11.3M

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SAN JOSE, CALIF. — Emerald Glen Condominium Homes in San Jose has sold to Sares Regis Group of Northern California (SRGNC) for $11.3 million. The property contains 46 completed condominium units and 77 subterranean parking spaces. SRGNC will soon complete the property’s interior construction and rebrand it as Aviara. The company also plans to lease the units, which are currently vacant. It will also refinance a longer-term loan once the asset stabilizes. Debt financing was provided by Berkadia Commercial Mortgage.

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