**Sack Capital, Belveron Partners Acquire San Jose’s Fountain Park Apartments with Affordable Housing Plan**
Sack Capital Partners and Belveron Partners have acquired Fountain Park, a 164-unit garden-style apartment community located at 1026 S. De Anza Blvd. in San Jose. As part of the acquisition, the new owners plan to convert a portion of the units into affordable housing. Sack Capital will also oversee property management responsibilities. Details regarding the seller and sale price were not disclosed.
“Our team at Sack is pleased to partner with Belveron as we transform this well-situated development into a much-needed affordable community,” said David Feinberg, Managing Partner at Sack Capital. “We believe there will be great demand for Fountain Park due to its exceptional location near high-tech companies such as Apple, PayPal, Cisco, and Adobe, as well as its proximity to SJSU, De Anza College, and Palo Alto University–Cupertino.”
Originally built in 1974, many of the studio, one-, and two-bedroom residences at Fountain Park have recently been renovated. With its central location along the San Jose/Cupertino border, the community offers abundant shopping and dining options and convenient access to Highways 85 and 280, according to both Sack and Belveron.
