CUPERTINO >> A multi-unit apartment complex near the Apple spaceship headquarters in Cupertino and other Silicon Valley tech hubs has been bought in a deal that tops $120 million.

Pacific Urban Investors, acting through an affiliate, paid $123.8 million for Arioso, a property at 19608 Pruneridge Ave. in Cupertino, documents filed on Tuesday with the Santa Clara County Recorder’s Office show.

CIM Group sold the 201-unit complex, which also is a short distance from Kaiser Permanente’s Santa Clara medical center.

Arioso was built in 1998 and offers one- and two-bedroom floor plans that average 1,015 square feet, Pacific Urban Investors stated. The Palo Alto-based company is an experienced investor in multifamily residential projects.

On Oct. 9, Pacific Urban paid $109.3 million for The Harlowe, a 266-unit apartment complex at 1821 South Milpitas Boulevard in Milpitas. That price equated to $410,900 a unit.For the Cupertino complex, the purchase price was about $615,900 per apartment unit, which would be on the higher side of per-unit values for Bay Area apartment properties in recent years.

The three-story Cupertino building offers one- and two-bedroom floor plans, averaging 1,015 square feet. Arioso’s monthly rental rates range from $3,351 to $10,185, according to Apartments.com.

“CIM Group invested in an extensive program of interior and exterior upgrades at Arioso,” the seller stated. “Among the completed apartment improvements are the installation of quartz countertops, stainless steel appliances, vinyl plank flooring and the addition of full-size washers and dryers.”

The seller also made considerable upgrades to the exterior areas of the apartment complex.

“The gym and clubhouse have been fully renovated while the exterior work included refreshing the landscaping and outdoor gathering spots including the pool and deck,” CIM Group stated.