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4/14/25
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Bay Meadows Apartment Collection, a portfolio of four luxury multifamily properties totaling 390 units in San Mateo, has been refinanced with a new first mortgage loan for $170 mil. The properties are owned by a partnership of Stockbridge and Wilson Meany.
The Bay Meadows Apartment Collection is adjacent to the Hillsdale Caltrain Station, strategically located between San Francisco and Silicon Valley. The four Class A properties include: the 108-unit Field House, built in 2015; the 70-unit Quimby, built in 2017; the 158-unit Russell, built in 2017; and the 54-unit Hawthorne, built in 2024. The portfolio offers a mix of studios, one-, two- and three-bedroom units averaging 1k sf in size, along with 10k sf of ground floor retail space.
Located within the 83-acre Bay Meadows master-planned community, residents enjoy access to 18 acres of parks and open spaces, over 1 msf of office space and proximity to major employers in the tech industry.
Bruce Ganong, Chris Gandy, Elijah Lax and Tomie Vega with JLL Capital Markets arranged the five-year, fixed-rate loan. It was funded through New York Life Real Estate Investors.
San Mateo continues to be a highly desirable location in the Bay Area, with strong rental demand and limited new supply. The refinancing of Bay Meadows Apartment Collection demonstrates the continued appeal of high-quality multifamily assets in prime Silicon Valley locations.
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