Apartment Choice

SAN FRANCISCO--( BUSINESS WIRE )-- Calvera Partners , a California- based private real estate investment firm , today sold pksl (pronounced “pixel”), a 37-unit apartment building located at 1090 Sunnyvale Saratoga Rd. in Sunnyvale, CA, for $15.7 million ($424,000 per unit), an 89% increase over the building’s acquisition price of $8.325 million in January 2014. Home base to the original tech darlings Atari , AMD and Yahoo, the pksl project was the transformation of a 1960s- era apartment complex , formerly known as Crestview Terrace. With a mission to reposition underperforming properties with creative and authentic brands, high value tenant amenities , and modern design, pksl underwent a major transformation. “This community underwent the most significant physical change of any property we’ve owned,” said David Saxe, managing principal at Calvera Partners. “It was in disrepair when we took ownership and needed a major renovation and image upgrade. We spent more than $2.5 million ...

SAN FRANCISCO, CA - Calvera Partners , a California- based private real estate investment firm , sold pksl (pronounced “pixel”), a 37- unit apartment building located at 1090 Sunnyvale Saratoga Rd. in Sunnyvale, CA, for $15.7 million ($424,000 per unit), an 89% increase over the building’s acquisition price of $8.325 million in January 2014.Home base to the original tech darlings Atari , AMD and Yahoo, the pksl project was the transformation of a 1960s- era apartment complex , formerly known as Crestview Terrace. With a mission to reposition underperforming properties with creative and authentic brands, high value tenant amenities, and modern design, pksl underwent a major transformation. “This community underwent the most significant physical change of any property we’ve owned,” said David Saxe, managing principal at Calvera Partners . “It was in disrepair when we took ownership and needed a major renovation and image upgrade. We spent more than $2.5 million renovating t...

August 25, 2008 | By Jerry W. Jackson, Sentinel Staff Writer Despite the real-estate slowdown, apartment developer Lane Florida LLC is moving forward with its Orlando-area projects. The company, launched in Orlando by Atlanta-based Lane Co. in 2006, is wrapping up work on portions of its first complex in Florida, a 384- unit development in Osceola County called Verano Apartments . Work began on Verano, located just off Exit 244 of Florida's Turnpike near Walt Disney World , in November 2007. While leasing has begun and some of the one- to three-bedroom units are occupied, work is continuing and the complex should be completed by February, according to Mike Mulhall, the company's Florida regional development partner . Mulhall said work has also begun on the company's even more ambitious downtown Orlando apartment tower , called The Montage. The 19-story high-rise is being built on Lake Avenue a block from Lake Eola. "The apartment market remains strong , and we have t...