Thai real estate giant pays record price for second major Bay Area project

One of Thailand's largest real estate developers paid more per unit for a major apartment building last week than any buyer in San Mateo County ever has.

Land and Houses paid $73 million cash, or $663,000 per unit, in an off-market deal for a recently constructed 111-unit San Mateo luxury apartment complex.

The company paid a record price-per-unit for the two-acre development called Mode by Alta, according to research by brokerages Marcus & Millichap and Cushman & Wakefield.

Read full story: Thai real estate giant pays record price for second major Bay Area project