|
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.
|
|
Return to the Archive page
|
|
|
|
|