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IPA Brokers $205M Student Housing Sale to JV of Coastal Ridge, Brookfield
Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of The Grad San Jose, a 260-unit, 1,035-bed, purpose-built student housing asset near San Jose State University, where enrollment reached nearly 41,000 students in fall 2026. A joint venture between Coastal Ridge Real Estate and Brookfield paid $204.75 million for the 1,035-bed property.
“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,” said 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.”
Katz, in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented sellers AMCAL, Swenson and Tikehau Capital, and procured the buyer.
- ◦Sale/Acquisition
