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August 18, 2018
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San Mateo Apartment Portfolio Refinanced with $133 Mil Loan

4/17/18

Stockbridge Capital Group recently secured $132.9 mil in financing on a three-property, Class A apartment portfolio totaling 336 units in San Mateo. The loan proceeds were used to retire existing construction financing.

The transit-oriented portfolio is ideally situated midway between San Francisco and Silicon Valley immediately south of the Hillsdale Caltrain station. It includes: Field House, 108 units located at 282 Pony Lane; The Russell, 158 units located at 3098 Kyne Street West; and Quimby, 70 units located at 3068 Kyne Street West.

The Russell and Quimby also feature 10k sf of ground-floor retail leased to Blue Bottle, Tin Pot Creamery and Roam Burger. The borrower and their development partner, Wilson Meany, developed the three properties as a part of the larger pedestrian-friendly Bay Meadows master-planned community, which features 18 acres of parks and open space and will include 1,100 residential units, 944k sf of office space, up to 40k sf of retail and a new high school once fully completed.

Bruce Ganong, Chris Gandy and Bercut Smith with HFF arranged the fixed-rate loan, which was funded through TH Real Estate.





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