Rockpoint and Holland Partner Group Announce Joint Venture to Develop Stevens Creek in San Jose, California

The Community Will Increase Supply of New Rental Housing in Silicon Valley's Stevens Creek Corridor

BOSTON and SAN JOSE, Calif., Aug. 27, 2026 /PRNewswire/ -- Rockpoint, a Boston-based real estate private equity firm, and Holland Partner Group, a fully integrated real estate investment company, today announced that they have entered into a joint venture to develop Stevens Creek, a new multifamily community located at 3896 Stevens Creek Boulevard in west San Jose, California. The transaction includes the acquisition of the development site, and construction of the new property. Financial terms of the transaction were not disclosed.

Stevens Creek, which is scheduled to be completed in 2029, will comprise 311 apartments, and is designed as a modern mixed-use community, including approximately 6,000 square feet of ground-floor retail space. The property's location in the heart of Silicon Valley is minutes from key employment centers, including the headquarters of Apple and NVIDIA, and provides convenient access to I-280 and US-101 and other major transportation corridors. The property is also proximate to many popular retail, dining, and entertainment locations.

"Silicon Valley remains one of the nation's most dynamic innovation economies and continues to exhibit strong long-term rental housing demand driven by high-income employment, limited new housing supply, and high barriers to home ownership," said Aric Shalev, a Managing Member and Co-CEO at Rockpoint. "We believe this community is well positioned to meet the growing demand for modern rental housing while contributing thoughtfully to the continued evolution of the Stevens Creek corridor."

"Northern California continues to prove itself as one of the most resilient rental markets in the country, and well-located, thoughtfully designed communities like Stevens Creek are exactly where we see long-term value," said John Wayland, Executive Managing Director for Holland Partner Group. "This closing reflects years of disciplined work by our team to advance entitlements and build the right partnership to bring this project to life. We look forward to working alongside Rockpoint, and to breaking ground later this year."

The property will feature best-in-class amenities, including a resort-style pool and landscaped courtyard, resident lounge, state-of-the-art fitness center, and a co-working lounge. Unit interiors will feature stainless steel appliances, solid-surface countertops, in-unit washer/dryers, and luxury vinyl tile flooring.

Holland Partner Group has been active in the Bay Area for over a decade, developing and acquiring multifamily communities throughout Oakland, San Jose, and the greater Northern California region. Stevens Creek adds to a growing regional pipeline that reflects the firm's continued investment in delivering high-quality rental housing to one of the country's most supply-constrained markets.

Rockpoint, along with its predecessor firm, has a longstanding history of investing in the residential sector and has closed on or committed to 147 residential investments since 1995, comprising approximately 100,000 multifamily units. The firm continues to strategically target opportunities in high-barrier-to-entry markets with strong demand drivers where active asset management and repositioning strategies can create value.

About Rockpoint
Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, targeting investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm's co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 517 transactions with a total peak capitalization of approximately $83 billion. To learn more, visit www.rockpoint.com.

About Holland Partner Group

Founded in 2000, Holland Partner Group is a fully integrated real estate investment company developing high-quality investment properties in the Western United States, with expertise in development, construction, acquisition, redevelopment, and property management. Holland creates sustainable, socially connected, and vibrant communities to work, live, and enjoy life.

The company's seasoned 700-member team creates innovative, quality, and value-driven residential and commercial projects, championing every phase of development and construction of its mixed-use properties, including residential, office, parking garages, and retail assets. Headquartered in Vancouver, Wash., Holland has offices in Denver, Seattle, Northern California, Los Angeles, and San Diego. For more information, visit www.hollandpartnergroup.com.

Contacts
For Rockpoint:
Erik Carlson / Kate Kelley
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
[email protected]

For Holland Partner Group:
Dan Tremaine-McCarthy
Communications & Engagement Manager
360-949-3652
[email protected] 

SOURCE Rockpoint Group, L.L.C.