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Miro towers developer widens downtown San Jose property purchases

Source: Mercurynews.com | Re-Post MNM Partners LLC 11/27/19

SAN JOSE — The developer of the Miro residential towers project in downtown San Jose — expected to be a dramatic addition to the city skyline — has widened its property purchases across the street from the future high rises.

Bayview Development, the builder of Miro, a two-tower residential project on East Santa Clara Street between Fourth and Fifth streets, has bought an older two-story building a short distance away, according to Santa Clara County property records filed on July 15.

“We think this neighborhood, this part of downtown San Jose, is heading in a good direction,” said Ted McMahon, chief investment officer with San Jose-based Bayview Development. “This is a neighborhood with a lot of potential.”

Acting through an affiliate, Sunstone Fund II, Bayview Development paid $2.4 million for the two-story building, which has an address of 130 through 134 E. Santa Clara St. and is located between Third and Fourth streets, the county documents show. “As properties become available in the area, we try to tie them up,” McMahon said.

In February, a group led by Bayview Development bought a historic brick …see article >>> https://www.mercurynews.com/2019/07/16/miro-towers-developer-widens-downtown-san-jose-property-purchases/