NAI BT COMMERCIAL BROKERS TWO MULTIFAMILY SALES

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SAN JOSE, CALIF. — Justin Bautista and Chris Shaheen of NAI BT Commercial’s multifamily group brokered the transaction of two multifamily properties in downtown San Jose. The buyers, Clifford Felchie and Stan & Sheila Redd, are a partnership that owns more than 200 multifamily units in the area. The partnership acquired a 30-unit apartment community located at 51 S. 19th St. from 51 Newco LLC for $3.6 million or $120,000 per unit. Built in the 1960s, the property offers two-bed/one-bath townhouse units. United Commercial Bank provided financing for the transaction. Additionally, the partnership purchased a triplex located at 57 S. 19th St. from Story & King Properties LLC for $550,000.

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