Sack Capital, Belveron Team on San Jose Apartment Acquisition
Sack Capital Partners and Belveron Partners have acquired Fountain Park, a 164-unit garden-style apartment community at 1026 S. De Anza Blvd. in San Jose, and will convert a portion of the units into affordable housing. Sack will also provide property management services. Seller and sale price were not disclosed.
“Our team at Sack is pleased to partner with Belveron as we transform this well-situated development to a much-needed affordable community,” said managing partner David Feinberg. “We believe there will be great demand for Fountain Park due to its exceptional location near high-tech companies such as Apple, PayPal, Cisco, and Adobe, as well as proximity to SJSU, De Anza College, and Palo Alto University – Cupertino.”
Fountain Park was originally built in 1974, and many of its studio, one- and two-bedroom residences were recently renovated. The property’s central location in San Jose/Cupertino provides abundant shopping and restaurant options along with easy 85 and 280 access, according to Sack and Belveron.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout