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6/16/21
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The Hudson Companies have secured a $78.5 mil bridge refi loan for Vespaio, a recently constructed mixed-use project that is currently in lease up in San Jose. Located at 130 Stockton Avenue, Vespaio is comprised of 162 apartments as well as retail and office space.
The unit mix features a range of studio, one-, two- and three-bedroom floor plans ranging from 530 sf to 1.7k sf. Community amenities include a game room, co-working space, tenant lounge, fitness center, four sky terraces, outdoor work areas and kitchen, saltwater pool, spa and 290 gated parking spaces.
The seven-story property also features 32k sf of retail and creative office space. Tech firm Surfaceink has already signed a lease agreement to occupy office space at Vespaio.
Andrew Behrens and Jesse Weber of CBRE arranged the loan on behalf of The Hudson Companies, a local real estate development and investment firm that developed and owns the property.
“Vespaio is an incredibly exciting project that will provide much-needed housing and quality office and retail space to Downtown San Jose,” said Behrens. “As major tech firms continue to bolster their presence in Silicon Valley, projects like Vespaio are critical to support the growth of the region.”
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