Värde Partners, a top global investment firm specializing in credit and related assets, has provided Windy Hill Property Ventures with $105 million for construction takeout refinancing of the Artisan Crossing apartment complex in Belmont. Windy Hill is known for its expertise in real estate development within the Greater Bay Area.
This financing will support the lease-up of their newly built 250-unit multifamily community, strategically located to meet 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. JLL’s Chris Gandy and Tom Gilliland led the team that arranged this deal.
Jon Miller, managing director at Värde stated: “We are thrilled to collaborate with Windy Hill Property Ventures on Artisan Crossing – an exceptional mid-peninsula multifamily community that meets institutional standards within Silicon Valley’s competitive housing market.” He added that Värde takes pride in being a trusted partner providing capital solutions to strong commercial real estate sponsors.
Artisan Crossing is conveniently situated near Belmont Caltrain station and offers residents various amenities such as fitness center, pool area, dog spa facility clubroom featuring rooftop deck access conference room work pods as well as underground parking facilities.
