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Megadeal for affordable housing in East Palo Alto closes; all eyes on new owner's next move

Feb 22, 2016 - Silicon Valley Business News
Mergers and Acquisitions

An affiliate of Sand Hill Property Co. has completed the acquisition of East Palo Alto's Woodland Park Apartments, a watershed transaction that shifts control of some of the Peninsula's most important workforce housing following years of controversy over rent hikes, evictions and the future of the Westside neighborhood under previous ownerships.

Menlo Park-based Sand Hill paid Equity Residential roughly $412.5 million for the 1,812 rent-stabilized units, according to two people familiar wi...