Marcus & Millichap's IPA Brokers $204.75 Million Sale of The Grad San Jose to Coastal Ridge and Brookfield

Marcus & Millichap's Institutional Property Advisors division brokered the $204.75 million sale of The Grad San Jose, a 260-unit, 1,035-bed student housing property near San Jose State University, to a joint venture between Coastal Ridge Real Estate and Brookfield. Business Wire published the announcement on October 14, 2026.

Marcus & Millichap's $204.75 Million Grad San Jose Sale

Peter Katz, an IPA executive managing director investments, said the 19-story property sits one block from San Jose State University. "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 said. Katz, working with Tony Solomon, Marcus & Millichap's California broker of record, represented the sellers, AMCAL, Swenson and Tikehau Capital, and procured the buyer.

Andrew Leahy, an IPA senior managing director, said institutional demand for student housing remains strong, particularly for assets serving large universities where enrollment continues to grow. Enrollment at San Jose State University reached nearly 41,000 students in fall 2026. Completed in 2020, The Grad offers fully furnished one- to four-bedroom floor plans, most with private bedrooms and private bathrooms, plus a resort-style pool and spa, a 24-hour fitness center, study lounges on every floor, a penthouse sky deck, an outdoor movie screen, sports courts and grilling stations.

Coastal Ridge Real Estate sold a 276-unit West Chester, Pennsylvania apartment complex for $66.3 million, American City Business Journals reported on August 6, 2026, a 72% increase from the $38.5 million the property traded for in 2019.

Marcus & Millichap's Transaction Record

Marcus & Millichap is a publicly traded commercial real estate investment brokerage operating more than 80 North American offices with 1,808 professionals, according to akta.pro company records. The same records list 8,818 closed sales transactions in 2025 and a value of $50.9 billion for recently closed transactions in its most recent year. The company was founded in 1971 and is headquartered in Calabasas.

Marcus & Millichap's Recent Deals

Marcus & Millichap brokered the sale of the 23-unit Amber Pines Apartments in Upland, California, for $5.9 million, The future of trading reported on October 12, 2026, a price of $257,717 per unit for the 1975-built property at 330 Amber Court. IPA Capital Markets arranged $50 million in non-recourse financing for an 18-property industrial portfolio across Texas, Oklahoma and Georgia, Stock Titan reported on October 9, 2026, a five-year loan with a 70% loan-to-value ratio, a 6.75% interest rate and interest-only payments. Marcus & Millichap expanded its Preferred Partner relationship with Brown & Brown into Canada for commercial real estate investors, Stock Titan reported on October 8, 2026.

The Grad San Jose's Next Steps

Marcus & Millichap announced the sale on October 14, 2026, and did not state a closing date or regulatory conditions.