Portfolio at Santana Row

San Jose, CA
ClientFederal Realty Investment Trust
Product TypeCondominium Conversion
Residences219

Santana Row is a high-end residential, retail and entertainment destination in Silicon Valley. The dynamic and stylish setting includes boutiques, art galleries, restaurants, cafes, and a world-class hotel and spa situated along and near an urban European-style boulevard.

Results
  • Portfolio at Santana Row broke price per square foot records for the area while achieving average absorption of 17 homes per month.
  • An aggressive branding campaign was used to separate the three for sale buildings from the remaining rentals and properly reflect the upscale Santana Row brand. The for sale collection was transformed into Portfolio at Santana Row and comprised of three distinct brands: Margot, Deforest and Villas.
  • The sales and marketing team managed existing tenant programs, converting an impressive 40-45% of existing rental tenants to buyers versus a typical conversion rate of 20%.
  • The exclusive Villas collection achieved a record-breaking average price of $1.4 million.