Institutional Property Advisors, a division of Marcus & Millichap, has brokered the sale of The Grad San Jose, a purpose-built student housing high-rise located one block from San Jose State University. The 19-story property comprises 260 units and 1,035 beds and is designed specifically to serve the university’s student population, which reached nearly 41,000 students in the fall 2026 term.
A joint venture between Coastal Ridge Real Estate and Brookfield acquired the 1,035-bed asset for $204.75 million. The transaction highlights ongoing investor interest in student housing closely tied to large public universities, particularly in supply-constrained urban markets. The Grad San Jose is described as a modern, Class A high-rise situated in the heart of Silicon Valley, a location characterized in the deal announcement as having deep demand, compressed cap rates, and significant barriers to new development and entry.
At the time of the sale, The Grad San Jose was reported to be 100% occupied for the second consecutive leasing season. The property has also experienced strong renewal activity, supported by Fresno-based property manager BEKK Inc., which oversees day-to-day operations and resident services. The sustained full occupancy and renewal performance provide additional context for investor interest in the asset and its positioning within the San Jose State University housing market.
Peter Katz, executive managing director investments with Institutional Property Advisors, led the marketing and sale efforts. Katz, working in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented the selling group and also procured the joint venture buyer. The sellers in the transaction were identified as AMCAL, Swenson, and Tikehau Capital.
The combination of Class A specifications, proximity to campus, and full occupancy at The Grad San Jose underscores the role of institutionally managed student housing as an investment category within broader commercial real estate capital flows. The involvement of a joint venture between Coastal Ridge Real Estate and Brookfield, alongside an institutional seller group and a national brokerage platform, reflects the scale and profile of this transaction within the student housing sector.
