Updated Oct 23, 2026
SOLDMultiFamily
Kennedy Wilson, Hulic Co. And Fuyo General Lease Acquire Multifamily Property In San Jose For $176M
1 South Market Street
$176,000,000
Units
312
Asset Type
MultiFamily
Closing
Oct 14, 2026
About this deal
AI
The transaction involves the sale of One South Market, a multifamily property located at 1 South Market Street in San Jose, CA. The property consists of 312 residential units and features 6,534 square feet of fully leased ground-floor retail space. The property was constructed in 2015 and was sold for $176 million, resulting in a price per unit of approximately $564,103.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $176,000,000
- Units: 312
- Price Per Unit: $564,103
- Address: 1 South Market Street
- Market: San Jose, CA
Kurt Zech from Kennedy Wilson, Sohei Okuno from Hulic Co, and Hiroyuki Motoshita from Fuyo General Lease were the buyers in this transaction. Jon Teel from CBRE represented the buyers during the deal.
On the Map
$176,000,000
MultiFamily
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Players
San Jose MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93