SAN FRANCISCO, CA - Holliday Fenoglio Fowler (HFF) announced the $288.8 million construction financing for MIRO, a pair of 28-story luxury apartment towers comprising more than 600 residences and 20,000 square feet of retail and commercial space in San Jose, California.
The HFF team worked on behalf of the borrower, Bayview Development Group, to secure the five-year, interest-only construction loan through Broad Street Real Estate Credit Partners III (BSRECP III), a fund managed by the Goldman Sachs Merchant Banking Division.
Due for completion in 2020, MIRO will have a mix of one-, two- and three-bedroom layouts, including 16 penthouses. Residences will have access to over 50,000 square feet of thoughtfully curated top-of-the-line amenities, including a rooftop pool, concierge services, fitness, spa facilities, pet facilities, fire pits and rooftop lounges boasting unparalleled views of the city’s skyline. The property’s location at 167 E Santa Clara Street in downtown San Jose has a Walk Score of 96 and is within steps of the future downtown San Jose BART station.
The HFF debt placement team representing the borrower included senior managing director Charles Halladay, director Brandon Roth, and analyst Jason Carlos.
“There was a tremendous amount of enthusiasm from the lending community for this project, which is a testament not only to Bayview Development’s best-in-class team, but also to downtown San Jose’s bright future as one of the top real estate markets in Silicon Valley,” said Roth. “BSRECP III immediately recognized these traits and performed exceptionally-well throughout the process.”
Bayview Development Group, headquartered in San Jose, CA, is a privately held real estate development and investment firm focused on developing high-density, mixed-use projects in Northern California.
Source: Holliday Fenoglio Fowler / #Apartments #Multifamily