Oaktree Capital, through a joint venture with MG Properties, has purchased The Platform Urban Apartments, a 551-unit community in San Jose, CA.
The property is a transit-oriented mixed-use community covering 35,000 square feet of ground-floor retail. The Platform Urban Apartments is a luxury community with a resort-style common area amenity offering.
“We are excited about our partnership with MG Properties to acquire The Platform, which we believe is a high-quality asset in the attractive multi-family sector,” commented Jared Lazarus, managing director in Oaktree’s Real Estate Group. “This transit-oriented, luxury community asset will strongly benefit from the Bay Area’s continued economic recovery from the pandemic.”