San Jose apartment complex bought in $50 million-plus deal
SAN JOSE — Fountain Park in San Jose has been bought for $52 million, according to documents filed on Aug. 29 with the Santa Clara County Recorder’s Office.
Sack Capital Partners, acting through an affiliate, is now the owner of the residential complex at 1028 South De Anza Blvd., county and state public documents show.
Entrance area of Fountain Park apartments at 1028 South De Anza Boulevard in San Jose. (Google Maps)
San Francisco-based Sack Capital Partners is a real estate firm whose expertise includes owning and managing apartment properties, according to the company’s website.
“The firm’s current portfolio includes approximately 3,000 apartments and condominiums in 15 cities in the Western U.S.,” the firm states on its website.
Las Palmas Housing, a real estate-oriented nonprofit, is also part of the ownership group.
“Las Palmas specializes in the development and long term ownership of affordable rental housing for senior and family residents,” the nonprofit states on its website.
The 164-unit Fountain Park was built in 1974, according to Apartments.com.
Just a few days ago, a real estate alliance paid $370 million for Park Kiley, a 948-unit apartment complex at 355 Kiley Ave. in San Jose, documents filed on Aug. 27 show. Measured by dollar amount, the deal represented the largest amount paid for an apartment property so far in 2025.
The more recent deal for Fountain Park worked out to about $317,100 a unit – considerably less than the $390,300 per unit in the Park Kiley transaction.
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