SAN MATEO, CALIF. — Land & Houses USA Inc. has purchased the 111-unit Mode by Alta apartment community in the Silicon Valley submarket of San Mateo for $73.6 million. The community is located at 2089 Pacific Blvd.
Mode by Alta was completed late last year. Apartments have above-standard ceiling heights, patios or balconies, oversized windows and high-end contemporary finishes. Community amenities include a fitness center and yoga studio, a contemporary lounge with a chef’s kitchen and resident business center, and resort-style courtyards with water features, fire pits and an outdoor kitchen.
The community is within walking distance of Caltrain. It is also one mile from San Mateo’s downtown district.
The developer and seller, Wood Partners, was represented by Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of Institutional Property Advisors.