San Jose student housing tower sale fetches more than $200 million
The Big Picture: The Grad, a 19-story student housing tower near San José State University, has sold for $204.8 million. Brookfield and Coastal Ridge Real Estate acquired the 260-unit, 1,039-bed property at 88 East San Carlos Street. The sale price exceeded the property’s assessed value of $193.5 million. The transaction follows two other major downtown student housing deals, including San José State University’s $165 million acquisition of Spartan Village on the Paseo and the $165 million sale of 27 North.
Why It Matters: While much of downtown San José’s commercial real estate market continues to struggle, student housing is attracting significant investment. The Grad’s sale demonstrates the strength of demand for housing near San José State University and the growing importance of student housing to downtown’s future. These projects bring residents, activity, and investment into the urban core, helping support local businesses and creating opportunities for continued downtown development.
Source: The Mercury News, October 7, 2026.
