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August 13, 2020
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BAY AREA NEWS
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Silicon Valley Multifamily Project Lands $121 Mil in Development Money

8/13/18

In a large multifamily financing deal out of Silicon Valley, Anton DevCo has obtained a $121.7 mil participating mortgage for the development of Anton Milpitas 730, a 266-unit, Class A multi-housing community with 1.8k sf of retail in Milpitas.

Anton Milpitas 730 is due for completion in 2020 and has been designed to LEED Silver specifications. The five-story, wrap-style building will offer a unit mix ranging from studios to two-bedroom units averaging 762 sf.

Planned project amenities include co-working space; dining and community courtyards; outdoor social space; a resident lounge; rooftop fitness center and pool overlooking the city; pet spa; bike repair station; lounge and a 372-space, six-story parking garage. Units will feature high-speed internet, various smart technology features and upgraded finishes, including quartz countertops and gas ranges.

The transit-oriented project is located on 3.34 acres at 730 E. Capitol Ave, directly across from the nearly completed Milpitas BART station with access to the BART station and VTA Montague light-rail platform through a common access point immediately adjacent to the project. BART will provide residents with a less-than-one-hour commute to San Franciscoís Financial District, and the VTA light rail will provide access throughout Greater San Jose.

Sean Deasy, Mark Erland and Matthew Benson with HFF arranged the participating loan through an institutional partner. This is the second phase of Antonís two-phase development. The HFF team also arranged a participating mortgage for Phase I, which is already under construction, in a transaction that closed in May 2017.





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