52 Townhomes Coming to the Bay Area

Irvine, CA September 6, 2018 – SummerHill Homes has acquired 52 townhome lots within Mountain View, California. Land Advisors Organization, a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets, represented the Seller, OAMAC Montecito Investment, LLC, in this transaction. The terms were not disclosed.

Located at 2044 and 2054 Montecito Avenue, the Property is approximately 2.77 acres and is currently improved with 52 apartment units, which will be demolished to make way for the new townhome project. Montecito Place will feature 3-story townhome style condominiums ranging in size from 1,406 to 1,708 square feet. Steve Reilly, Senior Vice President at Land Advisors explains, “Silicon Valley has continued to be one of the most desired housing communities in the nation fueled by job growth in the tech market. This has led to intense competition for land and has resulted in these types of unique in-fill transactions, in this case re-entitling an existing 52 unit apartment property to 52 townhome units.” This community is two miles from the Googleplex (Google’s World Headquarters) and approximately 10 miles north of San Jose and 35 miles south of San Francisco,

The Property’s location boasts more than just its Silicon Valley description. While millennials continue to flock to the Silicon Valley, regardless of price and location, residents are quick to point out that their cities are more than just Silicon Valley adjacent.  Residents of Mountain View enjoy 750 acres of regional recreation and wildlife space alone the shoreline, a weekly farmers’ market, and a downtown that is a mixture of quaint and modern with its Arts and Wine Festival and eclectic restaurants and breweries. It’s easy to see why Mountain View’s was recognized in Livability’s “Best Places to Live in United States,” and as a pedestrian-friendly downtown for working professionals and families alike.

Media Contact:
Jennifer Kearby, Marketing Coordinator
Land Advisors Organization
949.852.8026
jkearby@landadvisors.com