SAN JOSE, CA – An affiliate of Oberndorf Real Estate Management in partnership with The Bascom Group announced the acquisition of Museum Park Apartments, a 117-unit Class B+ multifamily property located at 465 West San Carlos in San Jose, CA for $53.1 million.
Built in 2002, the three-tale garden-style community spans 12 buildings across three acres. The floor plans range from one- to three-bedroom apartments, which at a blended 1,035 SF per unit, are large relative to both the market and newly developed properties. Residents have access to 130 parking spaces, with most units featuring attached private garages with just over half providing direct access to the homes. Other amenities include in-unit washers and dryers in every apartment, a fitness center, green space, barbecue areas, and a dog park.
Museum Park is located in a prime downtown San Jose area near employment centers and transit infrastructure. The apartments are a small walk to San Pedro Square and the SAP Center, and San Jose Diridon Station is less than a mile away, providing residents direct access to the region’s Caltrain and light-rail hub. Interstate 280 and Highway 87 are within a half mile. Many of Silicon Valley’s employers are minutes away, including Apple, NVIDIA, Adobe, and Cisco, with more than 200 restaurants and 40 arts and cultural venues in the area. Additionally, Google’s Downtown West project could reshape the surrounding area if completed as plotted.
Peter Oberndorf, Managing Director of OBREM, said, “This acquisition marks OBREM’s first investment in California in over a decade, and we are excited to return to our home base in the Bay Area. With home ownership in San Jose costing significantly more than renting, we see strong underlying fundamentals in this market, including high barriers to entry for new multifamily supply, robust demographics, and sustained job growth, that support our long-term investment in Museum Park.”
Museum Park’s low-rise garden apartments with large unit sizes provide a strong foundation and substantial unrealized potential. Having never been renovated, the property represents a compelling opportunity for the partnership’s strategic value-add renovation program, which will modernize kitchens, bathrooms, and common areas to enhance the community.
Chad Sanderson, Bascom’s Senior Principal of Business Development and Acquisitions, stated, “The commercial real estate market in San Jose and the greater San Francisco Bay Area is experiencing an unprecedented structural resurgence driven by the AI-focused Silicon Valley ecosystem, which effectively reversed post-pandemic tech downsizing and stimulated demand for well-located rental assets like Museum Park.”
Museum Park will be managed by Apartment Management Consultants (AMC), a top 10 nationally recognized multifamily property manager, overseeing approximately 158,000 units across the U.S. Combined with the partnership’s plotted renovation program, the new management team will help enhance the resident experience while preserving and building upon the unique character and charm that has defined Museum Park since opening.
Paul Zakhary, Bascom’s Senior Principal of Operations, said, “Our plot is to upgrade unit interiors with targeted improvements and enhance the property’s exterior and community amenities, giving tenants a satisfying living experience at a competitively priced alternative to newer apartment communities.”
Joe Ferguson, Bascom’s Vice President of Acquisitions, added, “The pricing reset following the rise in interest rates has made multifamily opportunities across a broad range of markets and property vintages. Museum Park fits our strategy by combining newer construction with substantial value-add potential through renovations and operating improvements. Its Silicon Valley location makes the opportunity particularly compelling, as the region is one of the few markets in the country currently experiencing significant job and rent growth.”

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INDIANAPOLIS, IN – Thompson Thrift, a full-service nationally recognized real estate company, announced that construction is underway on The Crossing Lofts at Fishers District, a 273-unit luxury multifamily community with approximately 10,000 square feet of ground-floor commercial space in the Indianapolis suburb of Fishers. First residents are expected to go in January 2028.
The Crossing Lofts is located within The Crossing at Fishers District, the southern part of Thompson Thrift s expansive Fishers District master plot and home to the 7,500-seat Fishers Event Center. The four-tale, elevator-served community will include attached structured parking and offer residents walkable access to the growing collection of dining, shopping and entertainment options throughout Fishers District.
The Crossing Lofts represents another vital step in bringing our long-term vision for Fishers District to life, said Josh Purvis, managing partner of Thompson Thrift Residential. Over the past decade, Fishers District has evolved into a vibrant mixed-use destination, and this community will build on that momentum by bringing residents closer to everything the district has to offer.
The Crossing Lofts will offer studio, one- and two-bedroom apartment homes with up to 1,440 square feet of space and include upscale finishes like quartz countertops, stainless-steel appliances, hardwood-style flooring, large walk-in closets, full-size washers and dryers and smart-home technology. Select homes will include premium finishes, a den, private yards and other upgraded features.
Community amenities will include a resort-style heated swimming pool, 24-hour fitness center, thoughtfully designed courtyards with grilling and gathering areas, a pet spa, social hub, coffee bar, focus suites and resident conference space, as well as a Minnow Pod, a secure, temperature-controlled food delivery station designed to keep restaurant and grocery deliveries fresh until residents are ready to retrieve them.
Located near Interstate 69 and 116th Street, Fishers District provides convenient access to I-465 and major employment centers throughout the Indianapolis metropolitan area. The Crossing Lofts will sit adjacent to the event center and within walking distance of destinations throughout Fishers District, including The Union, The Yard and Slate at Fishers District.
The ground-floor commercial space incorporated into The Crossing Lofts will further expand the mix of uses within The Crossing at Fishers District and complement the restaurants, retailers and entertainment venues already established or underway throughout the broader development.
What makes Fishers District special is the way each new development builds on what is already here, said Ryan Menard, vice president of commercial development at Thompson Thrift. The Crossing Lofts will bring more residents into the heart of the district while making new opportunities for commercial users, further building the energy and connectivity we envisioned.
When completed, The Crossing at Fishers District will include more than 75,000 square feet of retail, restaurant and entertainment space, one 125-room hotel, and nearly 500 multifamily units.
Thompson Thrift first started work on Fishers District in 2015. Once complete, the approximately $750 million, 123-acre master-plotted development will include five distinct developments offering multifamily and townhome residences, hotels, office space, dining, shopping and entertainment, all connected by a network of pedestrian paths.
Over the past 40 years, Thompson Thrift has invested more than $7.3 billion into local communities and has become known as a trusted partner engaged in all aspects of development, construction, leasing, and management of high-quality real estate projects across the country.

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PHOENIX, AZ – Leon Multifamily, a subsidiary of Leon Capital Group, a diversified holding company with operating subsidiaries in real estate, healthcare, and financial services, announced the start of construction on Soltra Ironwood, a 343-unit luxury multifamily community in North Phoenix, Arizona. Soltra Ironwood is Leon’s latest addition to its growing portfolio of Class-A multifamily developments in the Phoenix metropolitan area, positioned to meet rising housing demand driven by the rapid expansion of the region’s semiconductor and advanced manufacturing base.
North Phoenix has become one of the fastest-growing employment corridors in the country, anchored by Taiwan Semiconductor Manufacturing Company’s (TSMC) expanding campus. TSMC has committed to a total of $265 billion in Arizona investment across up to 10 fabrication facilities, two advanced packaging plants, and a research and development center — a build-out expected to support tens of thousands of construction and permanent jobs in the surrounding area. Soltra Ironwood is designed to serve this expanding workforce and the broader population growth it is driving across North Phoenix.
Soltra Ironwood will offer studio, one-, two-, and three-bedroom apartments in North Phoenix. The community is designed to include a resort-style pool, a 24-hour fitness center, co-working space, a clubhouse event space, a dog park and pet spa, pickleball and bocce ball courts, and private garages with EV charging. First units are expected in the fourth quarter of 2027, with leasing to follow.
North Phoenix’s growth tale is being written by companies like TSMC, whose expanding investment is bringing tens of thousands of new jobs to the area, said Blake Schroeder, President of Leon Multifamily. Soltra Ironwood is our response to that growth.
The community is being built by LMF Construction, Leon’s in-house general contractor, which delivers construction management and general contracting services for multifamily developments across the U.S., for both Leon’s own projects and a growing roster of third-party clients. Since 2017, LMF Construction has completed or is currently underway on 22 projects, representing more than $1 billion in construction value.
Every project sharpens the way our team works together, and Soltra Ironwood is no exception, said Derek Deckard, President of Construction, LMF Construction. Our crews are ready to get to work, and we’re committed to delivering the same level of quality and attention to detail that has defined our projects across the Phoenix market.

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