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San Mateo Units Trade for $73M

Wood Partners just sold Mode by Alta, a 111-unit apartment building on two acres in San Mateo, to Land & Houses USA Inc. for $73.6M. Designed by Christiani Johnson Architects and built by SBI Builders, the site consists of two three-story buildings. Located on the site of a former commercial printing facility at 2089 Pacific, the property is adjacent to the Caltrain rail line. This is the second luxury apartment community that Wood Partners has developed and sold in the area. (The first, Domain by Alta in Oakland, sold in 2013 for $103.2M.)