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7/30/24
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Windy Hill Property Ventures has obtained $105 mil in construction takeout refinancing for Artisan Crossing, a newly developed, 250-unit multifamily community in the Bay Area city of Belmont. The loan was provided by Varde Partners.
The bridge financing supports the lease-up of the new project, which is positioned to capture demand for premium rental options around the Silicon Valley area. The floating rate loan, which has a three-year initial term with two one-year extension options, was arranged by JLL’s Chris Gandy and Tom Gilliland.
Artisan Crossing is conveniently located at 1325 Old County Rd, near the Belmont Caltrain station. It features generous amenities, such as a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.
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