{"id":447017,"date":"2026-08-29T07:34:33","date_gmt":"2026-08-29T07:34:33","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/447017\/"},"modified":"2026-08-29T07:34:33","modified_gmt":"2026-08-29T07:34:33","slug":"san-jose-apartment-hub-is-bought-in-deal-that-points-to-stable-prices","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/447017\/","title":{"rendered":"San Jose apartment hub is bought in deal that points to stable prices"},"content":{"rendered":"<p>SAN JOSE \u2014 Silver, a 268-unit apartment complex in the Midtown district of San Jose, was bought for $122.3 million, documents filed on Aug. 25 with the Santa Clara County Recorder\u2019s Office show.<\/p>\n<p>San Francisco-based <a href=\"https:\/\/www.carmelpartners.com\/the-firm\/\" rel=\"nofollow noopener\" target=\"_blank\">Carmel Partners<\/a>, through an affiliate, bought the complex just west of downtown at 333 Sunol St. through an all-cash deal, according to real estate records. San Mateo-based Essex Property Trust led the group that sold the property.<\/p>\n<p>Republic Urban and Swenson, two San Jose-based real estate firms that have been working on projects for 20 years, developed the <a href=\"https:\/\/www.republicfamilyofcompanies.com\/developments\/silver\" rel=\"nofollow noopener\" target=\"_blank\">apartment complex<\/a>. It opened in 2019.<\/p>\n<p>The amount that Carmel Partners paid equates to a price of just under $456,200 per unit.<\/p>\n<p>By comparison, over the 12 months that ended in March, the average price per unit for completed apartment purchases in the San Jose metro area was $385,000, according to a report that commercial real estate firm Marcus &amp; Millichap provided to this news organization.<\/p>\n<p>\u201cSan Jose\u2019s multifamily market continues to be supported by constrained new supply, steady renter demand and rent growth,\u201d said Ramon Kochavi, a Marcus &amp; Millichap senior managing director and market leader.<\/p>\n<p>Apartment vacancy levels for the San Jose metro region are expected to drop to 3.2% by the end of 2026, which would be a 25-year low, Marcus &amp; Millichap reported.<\/p>\n<p>\u201cThe market\u2019s operating fundamentals continue to create favorable conditions for multifamily investors,\u201d Kochavi said.<\/p>\n","protected":false},"excerpt":{"rendered":"SAN JOSE \u2014 Silver, a 268-unit apartment complex in the Midtown district of San Jose, was bought for&hellip;\n","protected":false},"author":2,"featured_media":447018,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[184,387,7,8,3010,1335,1337,181,23,100,388,88,90,89,5406,198,200],"class_list":["post-447017","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-jose","tag-bay-area","tag-business","tag-california","tag-california-news","tag-commercial-real-estate","tag-development","tag-housing-development","tag-latest-headlines","tag-local-news","tag-news","tag-real-estate","tag-san-jose","tag-san-jose-headlines","tag-san-jose-news","tag-san-jose-real-estate","tag-santa-clara-county","tag-south-bay"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/447017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=447017"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/447017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/447018"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=447017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=447017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=447017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}