SAN JOSE — A deal involving an apartment complex in South San Jose that was bought for well over $300 million hints at a strengthening market for South Bay residential properties despite some difficulties in the region.
Ascent, a 650-unit apartment complex at 5805 Charlotte Dr., was bought for $322.8 million by a group that includes California nonprofit Pacific Housing, according to documents filed on Dec. 22 with the Santa Clara County Recorder’s Office.
The buying group obtained a $177.5 million loan from Walker & Dunlop, a company that specializes in financing commercial real estate properties. Shea Properties, acting through an affiliate, sold the complex…