Oberndorf Real Estate Management, The Bascom Group Acquire 117-Unit Museum Park Apartments in San Jose for $53.1MM
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- The 125th San Francisco story tracked on the wire in October 2026. All San Francisco coverage →
- Disclosed multifamily deal value tracked in October 2026: $7.5B across 82 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Oberndorf Real Estate Management is making its first California investment in more than a decade, partnering with The Bascom Group to buy Museum Park Apartments in downtown San Jose for $53.1 million. The 117-unit com…
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Oberndorf Real Estate Management and The Bascom Group Acquire Museum Park Apartments in San Jose, CA for $53.1 Million
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