Institutional Property Advisors Brokers $204.75 Million Sale of 1,035-Bed Student Housing Property in Northern California
Key Highlights
- ➤The Grad San Jose sold for $204.75 million.
- ➤Student housing property includes 260 units and 1,035 beds near San Jose State University.
- ➤The Grad was 100% occupied for the second consecutive leasing season.
- ➤Coastal Ridge Real Estate and Brookfield acquired the property through a joint venture.
- ➤Marcus & Millichap closed 8,818 transactions totaling $50.8 billion in 2025.
Expert Statements
Peter Katz, IPA executive managing director investments
“Rising 19 stories just one block from San Jose State University, The Grad is a modern, Class A high-rise in the heart of Silicon Valley, a market with deep demand, compressed cap rates and significant barriers to entry.”
Peter Katz, IPA executive managing director investments
“At the time of sale, the property was 100% occupied for the second consecutive leasing season, with strong renewal activity supported by Fresno-based property manager BEKK Inc.”
Andrew Leahy, IPA senior managing director
“Institutional demand for student housing remains strong, particularly for assets serving large universities where enrollment continues to grow.”
Andrew Leahy, IPA senior managing director
“The Grad’s location and scale next to San Jose State attracted institutional capital in the sector.”
Peter Katz, IPA executive managing director investments
“The Grad's pedestrian-to-campus location, newer-vintage construction and resort-style amenity package provide the buying entity with a high-quality, irreplaceable asset positioned for operational upside in one of the nation's most supply-constrained housing markets.”
Institutional Property Advisors Brokers $204.75 Million Sale of 1,035-Bed Student Housing Property in Northern California
Institutional Property Advisors (IPA) (link) , a division of Marcus & Millichap (NYSE:MMI) (link) dedicated to serving the company’s institutional clients, announced today the sale of The Grad San Jose, a 260-unit, 1,035-bed, purpose-built student housing asset near San Jose State University (SJSU) in San Jose, California, where enrollment reached nearly 41,000 students in fall 2026.
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