Calvera Partners is pleased to announce the acquisition of The Glens, an 88-unit, three-property apartment community located in San Jose's prestigious Willow Glen neighborhood. The acquisition represented an attractive opportunity to acquire scale in one of Silicon Valley's most desirable residential enclaves.
SAN JOSE, Calif., Sept. 4, 2025 /PRNewswire-PRWeb/ -- Calvera Partners is pleased to announce the acquisition of The Glens, an 88-unit, three-property apartment community located in San Jose's prestigious Willow Glen neighborhood. The acquisition represented an attractive opportunity to acquire scale in one of Silicon Valley's most desirable residential enclaves.
The Glens features large floorplans, with 75% of units offering two-bedroom, two-bath layouts, and sits in a neighborhood with a median home price of $2 million. The portfolio provides both immediate cash flow and significant long-term upside, with an all-in basis well below replacement cost.
"Silicon Valley is showing strong signs of resurgence, and Willow Glen is one of its most coveted communities," said Brian Chuck, Managing Principal at Calvera Partners. "This acquisition reflects our ability to source and secure attractive opportunities, even in competitive markets, by leveraging our deep experience operating multifamily assets in the region for more than 15 years."
Calvera's business plan includes addressing deferred maintenance, completing seismic and electrical upgrades, enhancing curb appeal, and selectively renovating unit interiors to capture additional rental upside. The three buildings will ultimately be positioned for individual sales to private buyers, creating flexibility in exit strategies.
Rents in San Jose have grown 3.8% year-over-year as of Q2 2025, driven by robust job growth and the region's continued leadership in AI and technology. With occupancy levels exceeding 96% and constrained new supply, the local multifamily market is poised for further growth.
"The Glens represents exactly the type of opportunity we target: well-located, underperforming assets where we can apply our value-add expertise to generate strong returns for investors," said David Saxe, Managing Principal at Calvera Partners.
This acquisition extends Calvera's longstanding track record in Silicon Valley, where the firm has completed multiple transactions over the past fifteen years, helping investors build wealth through multifamily real estate.
About Calvera Partners
Calvera is led by Managing Principals Brian Chuck, Brian Milovich, and David Saxe, all of whom previously worked for a ~$30 billion AUM institutional real estate fund manager where they were involved in over $1 billion of real estate transactions. Through its series of funds and individual acquisitions, Calvera has invested approximately $95 million of investor equity in 19 multifamily real estate transactions representing approximately 1,400 apartment units in four states and $220 million of value.
To find Calvera on social media, follow us at https://www.linkedin.com/company/calvera-partners.
Media Contact
David Saxe
Calvera Partners
1 (415) 765-7239
[email protected]
SOURCE Calvera Partners
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