Clarion Partners has acquired the Artist Walk apartment and retail property in Fremont, California for $110.25m (€98.8m), according to sources familiar with the matter.
The Artist Walk asset, which has a mixture of 185 apartment units and 30,000sqft of retail space, was sold by property developer Blake Griggs Properties and JD Capital USA Holdings, the US arm of the Chineses private equity firm JD Capital.
The Artist Walk property is located a block from the Altamont Commuter Express train that takes riders to Silicon Valley and is two miles from the Fremont Bay Area Rapid Transit stop.
Completed in 2017, the retail space of the property is fully leased and the apartment portion has a vacancy of 95%.
Clarion did not respond to a request for comment.
