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8/24/15
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The Prime Group has obtained $42.1 mil in permanent financing for The Madison Belmont, a 198-unit garden-style apartment complex in the Bay Area city of Belmont. Andrew Behrens and Jesse Weber of CBRE’s Capital Markets Debt & Structured Finance team in San Francisco arranged the Freddie Mac financing.
Located at 649 Old Country Road, the 176.2k sf complex contains eight three-story buildings. Renovated in 2008, property amenities include two sminning pools, fitness center, sauna and a children’s play area. The comunity is well positioned in the market for young professionals, families and elders.
The Madison Belmont is conveniently located near highways 101 and 280—providing residents with unparalleled highway access to employment and recreation centers in San Mateo, San Francisco, Santa Clara and Alameda counties. The property is less than one mile from the Belmont Cal-Train station, which offers service to locations from San Francisco into San Jose.
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