Acacia Capital has successfully secured a $113 million acquisition financing for their latest venture, 299 Franklin – a luxurious Class A multifamily community located in Redwood City. The financing was facilitated by the expert team at Walker & Dunlop Multifamily Finance, led by Jeff Burns, Chris Botsford, Rene Alvarez, Jeff Conahan and Matt DeMarche. Despite facing stiff competition in the market for funding options, the team was able to secure an attractive offer from Fannie Mae within just 19 days.
“We are thrilled to have partnered with Acacia on this project and exceeded their expectations by closing it in record time,” said Burns.
Constructed in 2015, this upscale apartment complex boasts of 304 units that include studio apartments as well as one- and two-bedroom residences. The average unit size is approximately 845 square feet with additional features such as direct-access townhomes. Residents can enjoy access to various amenities including a rooftop deck with stunning views of the city skyline; fitness center; swimming pool and spa deck; business lounge; resident lounge; bicycle parking facilities and electric vehicle charging stations.
This successful deal marks another milestone for both Acacia Capital and Walker & Dunlop Multifamily Finance who continue to deliver exceptional results through strategic partnerships.
