Mormon church real estate arm buys South Bay apartments in cash deal

MOUNTAIN VIEW — A real estate unit of the Church of Jesus Christ of Latter-day Saints bought a Mountain View apartment complex for $296.7 million, documents filed on Sept. 23 with the Santa Clara County Recorder’s Office show.

Property Reserve, through an affiliate, acquired The Village Residences in an all-cash deal for just slightly more than it was sold about seven years ago, documents show.

The seller in the deal, an affiliate of New York City-based Brookfield Property Group, paid $292 million in 2019 for the 330-unit complex near the corner of San Antonio Road and Fayette Drive…

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