Insights > Deals
Brookfield and Coastal Ridge buy The Grad in San Jose for US$204.8 million
6 October 2026 | Asset acquisition | US | 1,039 beds | Operational
The 19‑storey residence adds 1,039 student beds one block from San Jose State University to the buyers' portfolio.
Key details
Asset type | Operational |
Location | San Jose, US |
Capacity | 1,039 beds |
Buyer 1 | Brookfield |
Buyer 2 | Coastal Ridge Real Estate |
Seller 1 | AMCAL |
Seller 2 | Swenson |
Value | US$204.8 million |
Source: Silicon Valley
The Grad, at 88 East San Carlos Street, contains 260 apartments and opened in 2020. AMCAL and Swenson developed the property and had previously sought a sale in 2024 before refinancing it later that year.
The sale documents were filed with the Santa Clara County Recorder on 6 October.
Strategic context
The sale provides an exit for the original developers six years after opening, while Brookfield and Coastal Ridge take ownership of an established residence close to campus. The purchase price equates to approximately US$197,000 per bed, providing a transaction benchmark for established student housing close to San Jose State University.
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