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BAY AREA NEWS
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PCCP LLC and Alliance Residential Purchase Santa Clara Res Community in $125 Mil Deal

3/07/24

A joint venture of PCCP LLC and Alliance Residential has acquired Prado, a 251-unit, mid-rise apartment community in Santa Clara for $125 mil ($498k/unit). Prado was built by SummerHill Homes and delivered in April 2021.

The seven-story Prado property is located at 3560 Rambla Place, on an infill site within Silicon Valley, providing access to the regionís top employers including Google, Apple, Intel, and NVIDIA.

Pradoís unit mix consists of one- and two-bedroom units that feature stainless steel Whirlpool appliances, quartz countertops, hardwood-style flooring, gas ranges, walk-in closets, and private outdoor patios. The propertyís extensive amenity package includes an oversized pool and spa, a two-story fitness center, indoor and outdoor resident lounges, remote-work business center, and outdoor barbeques. Prado is within the 27-acre Nuevo master-planned community that was designed and entitled by SummerHill and includes high-end rental and for-sale residential product with shared amenity offerings.






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