Market Overview

HFF Announces $104M Sale of Meridian at Midtown in San Jose, California


HFF announces the $104 million sale of Meridian at Midtown, a 218-unit
luxury apartment community with approximately 14,000 square feet of
ground-floor retail in San Jose, California.

The HFF team marketed the property on behalf of the seller, Republic
Urban Properties LLC, and procured the buyer.

Meridian at Midtown is situated at 1432 W. San Carlos Street less than
one mile west of downtown and just north of Interstate 280. The
property's Midtown location has earned it a Walk
of 90 and provides a true live-work-play setting in one of
the Bay Area's most sought-after submarkets. Built in 2015, the mid-rise
property offers a range of amenities, including three state-of-the-art
fitness centers, conference rooms, a resort-style pool with cabanas,
community lounge space, dog park, outdoor courtyard, playground and
ground-floor retail amenities such as The Breakfast Club and Starbucks.
Residential units include a variety of studio, one- and two-bedroom
configurations averaging 875 square feet each.

The HFF investment advisory team representing the seller included
managing director Scott Bales, director Peter Yorck and analyst Eric Bet.

"Meridian at Midtown's central location is within a mile of Google's
proposed campus and the Diridon Station development, which will
dramatically shift the core of downtown San Jose closer to Midtown and
allow the property to continue to experience tremendous rent growth far
into the future," Bales said.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the
California Department of Real Estate, License Number 01385740.

About Republic Urban Properties LLC

Republic Urban Properties LLC, a division of the Republic Family of
Companies, represents a privately owned, full-service real estate
investment, management and development enterprise based in San Jose,
California. For over 30 years, Republic and each of its principals have
focused on institutional quality real estate, actively managing
partnerships and other fiduciary relationships that result in successful
real estate investments throughout the United States. Republic's senior
management team has over 150 years of combined experience and has
successfully developed and invested in real estate transactions valued
in excess of $6 billion.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE:HF). For more information, please
or follow HFF on Twitter @HFF.

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