Post Investment Group Extends San Jose Buying Spree with $34 Million Apartment Deal

Post Investment Group acquires the 130 unit Cherry Creek Apartments in San Jose for $34M, bringing its local holdings to over 1,000 affordable housing units.

By: AXL Media

Published: Mar 10, 2026, 5:54 AM EDT

Source: The Real Deal

The Cherry Creek Acquisition and Portfolio Growth

The latest acquisition involves the Cherry Creek Apartments, a 130 unit complex located at 2020 Southwest Expressway in the Willow Glen neighborhood. Originally constructed in 1968, the property sold for roughly $262,700 per unit. This transaction marks the seventh San Jose property for Post Investment Group, pushing its total local inventory past the 1,000 unit milestone. Existing holdings include the Orchard Glen, David Apartments, Regency Square, and Foxdale Village complexes, reflecting a concentrated investment strategy within the city limits.

Comparative Market Valuations and Pricing Strategy

The $262,700 per unit price point sits significantly below the Santa Clara County average. According to CBRE data, multifamily properties with over 100 units in the region have averaged $467,417 per door over the past five years. However, the lower entry price for Cherry Creek is consistent with the property’s status as a Low Income Housing Tax Credit (LIHTC) asset. By focusing on these subsidized units, Post Investment Group is acquiring scale at a lower cost basis compared to market rate luxury developments, while benefiting from the high demand for affordable workforce housing.

Transformative Analysis: The Strategic Value of LIHTC Assets

The "shopping spree" by Post Investment Group highlights a sophisticated play on regulatory stability. LIHTC properties like Cherry Creek and the recently acquired 1930 Almaden Road site offer a hedge against market volatility. While market rate rents can fluctuate based on corporate layoffs or economic downturns, the waitlists for affordable housing in San Jose are notoriously long. By partnering with nonprofits like the Oregon based Foundation for Affordable Housing, Post can leverage specialized financing and tax exemptions that make these older, 1960s era buildings highly profitable over a long term horizon.