Värde Partners, a top global investment firm specializing in credit and related assets, has provided Windy Hill Property Ventures with $105 million in construction takeout refinancing for the Artisan Crossing apartment complex located in Belmont. Windy Hill is known for their expertise in real estate development within the Greater Bay Area.
This financing will support the lease-up of Artisan Crossing’s 250-unit multifamily community, which caters to the growing demand for high-end rental options near Silicon Valley. The loan has a floating interest rate and an initial term of three years with two one-year extension options. It was arranged by JLL’s team led by Chris Gandy and Tom Gilliland.
Jon Miller, managing director at Värde stated, “We are thrilled to partner with Windy Hill Property Ventures on this project. Artisan Crossing offers rare institutional scale within Mid-Peninsula as well as being situated in one of Silicon Valley’s most sought-after housing markets.” He also added that Värde takes pride in being a trusted capital solutions partner for strong commercial real estate sponsors.
Artisan Crossing boasts convenient access to Belmont Caltrain station and features luxurious amenities such as a fitness center, pool area, dog spa facility,
clubroom with rooftop deck,
conference room,
work pods
and underground parking.
