Jeff Smith Of Sack Capital Partners And Joseph Michaels Of Las Palmas Housing Acquire Fountain Park Apartments For $52M

The Fountain Park apartment complex, located at 1028 South De Anza Boulevard in San Jose, was sold for $52,000,000. This multifamily property, comprising 164 units, has a price per unit of $317,073 and was originally built in 1974.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $52,000,000
• Units: 164
• Price Per Unit: $317,073
• Buyer: Jeff Smith - Sack Capital Partners; Joseph Michaels - Las Palmas Housing
• Market: San Jose

This transaction is part of a larger trend in the San Jose area, which has seen significant multifamily real estate activity, including the recent $370M sale of the Park Kiely Apartments.