Fountain-Park-San-Jose

Sack Capital Partners, Belverton Partners Acquire Fountain Park in San Jose

by Lynn Peisner

SAN JOSE, CALIF. — Sack Capital Partners and Belverton Partners have acquired the 164-unit Fountain Park in San Jose for $52 million. The property, developed in 1974, is comprised of studios and one- and two-bedroom units, many of which have been recently renovated. The new owners will convert a portion of the remaining units to affordable housing. Income caps were not disclosed. Amenities at the property include a clubhouse, barbecue area, a resort-style pool with a hot tub, a sauna, covered parking with electric vehicle charging stations and dog park. Sack Capital Partners will provide property management services.

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