TH Real Estate has acquired a multifamily asset in California for an undisclosed sum.

TH Real Estate said it bought Villas on the Boulevard at 2615 El Camino Road in Santa Clara.

Constructed in 2017, Villas on the Boulevard comprises 186 residential units and offers luxurious interior finish and high-quality community amenities.

Terry Senger, a senior director at TH Real Estate in the Americas, said: “With close proximity to local transportation hubs, Villas on the Boulevard provides residents access to entertainment and cultural centres throughout the region, including highly regarded employers within minutes of the property.

“Located strategically in the heart of Silicon Valley, the asset offers a unique and compelling investment that aligns with both current and long-term technology trends.”

TH Real Estate is a unit of Nuveen, the investment management arm of US financial services group TIAA.