Skip to content 
A group with a global reach paid $200 million plus to build a San Jose student housing tower.
Trinity AudioSAN JOSE – A group with a global reach has paid $200 million plus to open a San Jose student housing tower in a deal that hints at signs of economic strength in the city’s urban core.
was purchased for $204.8 million, documents on October 6 with the Santa Clara County Recorder’s Office show. Global investment titan Brookfield and student housing-oriented Coastal Ridge Real Estate have teamed up through an associate to acquire The Grad, which is located at 88 East San Carlos St. about a block from San Jose State University.
“The sale of the grade shows the underlying strength of downtown San Jose,” said Bob Staedler, chief executive with Silicon Valley Synergy, a land use consultancy. , putting it on the selling block in an uncertain market. It was not immediately clear if the tower has been continuously marketed for sale since that mid-2024 time period. The degree.
This financing, which replaced a previous loan from the CIM Group, which was issued in 2021. The 260-unit residential hub can accommodate 1,039 beds. Floor plans include 1-, 2-, 3- and 4-bedroom configurations. An alliance of Amcal, based in the Los Angeles County city of Agoura Hills; and San Jose-based real estate firm Swenson is developing The Grad starting in 2017.
The apartment tower opened in 2020. The deal suggests apartment values could stabilize in the South Bay. The new owners paid 5.8% more than the tower’s assessed value of $193.5 million, as calculated for January 2026. The price that New York City-based Brookfield Real Estate Solutions and Ohio-based Coastal Ridge paid works out to about $787,500 per room.
That’s 104.5% higher — more than double — the average price of $385,000 for completed apartment complex sales in the South Bay as estimated by Marcus & Millichap, a commercial real estate firm. It appears that Amcal and Swenson were able to repay their lenders and potentially achieve a profit for their years of efforts related to The Grad.
“The sale price means that both the lender and the owner came out whole, which is significant in today’s economic environment,” Staedler said. In December 2025, at 184 South Market St. The Spartan Village on the Paseo can accommodate 679 beds with a maximum capacity of 811 beds.
a 119-unit, 475-bed apartment complex at 27 North 6th St. “Student housing will continue to strengthen city development over the next decade, to bring residents, activity and investment in the urban core,” said Staedler.
Screw the next story
0% revealed · 100 points
USA Latest News, USA Headlines
Similar news: You can also read news similar to this one that we have collected from other news sources.
Skip Starbucks: Score $200 off Breville’s viral espresso machine for Prime DayA piping hot deal for coffee lovers.
Read more »
The MacBook Air is $200 off during Prime Day, the cheapest it’s been since JuneAt $1,099, the MacBook Air is $200 off its retail price for Prime Day, its lowest price in months.
Read more »
The celebrity-favorite Medicube Booster Pro X2 is finally under $200 for Prime DaySpa day: check!
Read more »
Our editors’ favorite walking pad is 37% off for Prime Day—and now under $200Get more steps at your desk with a quiet, padded walker under $200.
Read more »
