Midtown Court Apartments, a residential complex at 2721 Midtown Court in Palo Alto.
SAN JOSE — Local buyers have grabbed apartment complexes, one built 60 years ago in Palo Alto and the other built three years ago in San Jose, in deals that suggest investors still thirst for Bay Area residential sites.
Scotia Apartments in San Jose and Midtown Court Apartments in Palo Alto were bought in recent days for a combined $51 million, according to documents on file with the Santa Clara County Recorder’s Office.
The transactions indicate that Bay Area apartment complexes remain attractive for investors who want a piece of the Silicon Valley housing market.
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