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5805 Charlotte Drive

Adam Siegman & Jennifer Keith Of Ethos Real Estate Acquire 650-Unit Multifamily Asset In San Jose For $322.75M
SOLDMultiFamily

Adam Siegman & Jennifer Keith Of Ethos Real Estate Acquire 650-Unit Multifamily Asset In San Jose For $322.75M

5805 Charlotte Drive

$322,750,000

Building Size

Asset Type

MultiFamily

Closing

Dec 22, 2025

AI

The 650-unit Ascent apartment complex, located at 5805 Charlotte Drive in San Jose, was sold for $322,750,000, translating to approximately $496,538 per unit. Built in 2016, this multifamily asset, previously owned by Shea Properties, includes amenities such as a fitness center and a pool, with monthly rent prices ranging from $2,919 to $4,900.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $322,750,000
  • Units: 650
  • Price Per Unit: $496,538
  • Buyer: Adam Siegman & Jennifer Keith - Ethos Real Estate
  • Seller: Colm Macken - Shea Properties

The transaction involved key representatives, with Adam Siegman and Jennifer Keith acting on behalf of Ethos Real Estate as buyers, while Colm Macken represented Shea Properties as the seller in this deal.

Players

Adam Siegman

Ethos Real Estate

Buyer

$488.1M

vol

3 deals

Buyer
Ethos Real Estate
Ethos Real EstateBuyer

San Jose MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93