San Jose
Raintree Lands $218M Refi for CA Community
Capital One arranged the refinancing for Encasa Apartments, a 465-unit community in Sunnyvale, Calif. The property will receive 10-year, Fannie Mae fixed-rate loans that have 10 years of interest-only payments.
San Jose Community Sells for $36M
Marcus & Millichap represented the seller in the transaction and procured the buyer. The 109-unit asset features 12,000-square-foot commercial space, as well.
San Jose Luxury Development Lands $201M
HFF worked on behalf of Greystar to secure the construction loan through Otéra Capital. The Reserve is expected to be completed in 2020.
San Jose Mixed-Use Tower Changes Hands
HFF worked on behalf of the seller, Capri Capital Partners, to market 360 Residences, a high-rise with 213 units and ground-floor retail space.
Palo Alto Housing Unveils Revitalized Affordable Asset
Colorado Park Apartments reopened after a $31.9 million renovation. The property is the oldest in the non-profit agency’s portfolio.
The Senior Housing Boom’s Ripple Effect
Assisted living occupancy fell to its lowest in eight years, despite record absorption, according to NIC’s 2017 second quarter report. San Jose had the highest occupancy, while Detroit recorded the biggest rent growth.
Walker & Dunlop Closes $289M Financing for CA Portfolio
The properties comprise nearly 2,200 units in four major markets. Of the 21 properties, 11 have Section 8 HAP contracts to provide affordable housing, and 10 qualify for Fannie Mae’s Green Rewards Program.
Tech Scene Stays Hot, Rent Growth Cools in San Jose
Silicon Valley is the nation’s largest tech hub, a top-performing venture capital market and one of the most prominent locations for startups.
San Jose Flea Market Redevelopment to Reach 1,000 Units
Western National Group plans to develop 560 apartments in North Village, a community included in Market Park San Jose, a 120-acre mixed-use project.
Will San Jose’s New Rules Hobble Its Market?
Former Mayor Chuck Reed contends that the city’s restrictive new eviction regulations are discouraging development of badly needed new multifamily inventory.