IPA Capital Markets, a division of Marcus & Millichap, arranged $62,139,000 in acquisition financing for DUO Apartments, a 301-unit multifamily asset in San Jose.
The firm’s Brian Eisendrath, Cameron Chalfant and Jake Vitta originated the financing on behalf of the undisclosed borrower. IPA’s Salvatore Saglimbeni, Stanford Jones and Philip Saglimbeni brokered the sale of the leasehold interest.
The 10-year, interest-only, government-sponsored loan is fixed at 5.37%. The loan-to-value ratio is 65%.
Built on 4.6 acres in 2020, DUO Apartments is 11 miles from Downtown San Jose. The Santa Teresa light rail station is within walking distance, and U.S. Route 101 and State Route 85 are nearby.
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The post IPA Arranges $62M Financing for San Jose Apartments Deal appeared first on Connect CRE.
IPA Capital Markets, a division of Marcus & Millichap, arranged $62,139,000 in acquisition financing for DUO Apartments, a 301-unit multifamily asset in San Jose. The firm’s Brian Eisendrath, Cameron Chalfant and Jake Vitta originated the financing on behalf of the undisclosed borrower. IPA’s Salvatore Saglimbeni, Stanford Jones and Philip Saglimbeni brokered the sale of the …
The post IPA Arranges $62M Financing for San Jose Apartments Deal appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate