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Adam Siegman, Jennifer Keith & Cameron Bassett Of Ethos Real Estate Acquire 230-Unit LINQ Apartments In San Jose For $97.6M From Terry Fancher Of Stockbridge
SOLD
$97,600,000
+ 1
California
See Similar DealsMultiFamily
Sold 09/08/2025
SOLD
Adam Siegman, Jennifer Keith & Cameron Bassett Of Ethos Real Estate Acquire 230-Unit LINQ Apartments In San Jose For $97.6M From Terry Fancher Of Stockbridge
1700 Newbury Park Drive
See Similar DealsMultiFamily
Sold 09/08/2025
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in this transaction is the LINQ apartments, a multifamily property located at 1700 Newbury Park Drive in San Jose. The sale price was $97,600,000, equating to $424,348 per unit for the 230 residential units. The property, which was built in 2016, was previously purchased by Stockbridge Capital for $104 million in 2019 after an original construction cost of $70 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $97,600,000
- Units: 230
- PPU: $424,348
- Buyer: Adam Siegman, Jennifer Keith & Cameron Bassett - Ethos Real Estate
- Seller: Terry Fancher - Stockbridge
The deal was represented by Adam Siegman, Jennifer Keith, and Cameron Bassett from Ethos Real Estate, who were responsible for the purchase of the property from Terry Fancher of Stockbridge. The transaction reflects a strategic acquisition for the buyers, considering the history and financial metrics associated with the LINQ apartments.
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BUYER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$346,752.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$462,673.79
Annual Debt Service$5,552,085.52
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