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6/17/21
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Square Mile Capital Management LLC originated a $131.2 mil investment to facilitate the development of Artisan Crossing, a 250-unit multifamily project located 1325 Old County Rd at in the Bay Area city of Belmont. Square Mile Capital partnered with Bank OZK to place a $76 mil first mortgage loan and retained a $55.2 mil preferred equity investment.
The project is strategically located within a short walk to the Belmont CalTrain station and represents one of the first local projects to move forward following the passing of the Belmont Village Specific Plan. The project’s transit-oriented location provides commuters direct connectivity into downtown San Francisco, San Jose, and other Bay Area submarkets.
Upon completion, the property will feature a fitness center, outdoor courtyard, multiple outdoor amenity decks, dog spa, bicycle storage, a business center with multiple work pods, and two levels of underground parking.
The investment was made to a joint venture led by Windy Hill Property Ventures, who will now begin construction. The investment was arranged by Terry Daly and Dan McLeod of Cushman & Wakefield’s San Francisco office.
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