**IPA Capital Markets Secures $61M Financing for San Mateo Mixed-Use Development**
IPA Capital Markets, a division of Marcus & Millichap, has arranged $61 million in construction financing for Arbello, a new mixed-use multifamily and office development in San Mateo. Located at 477 9th Avenue, the five-story project is being developed by The Martin Group and JPF Capital.
Brandon Roth, Managing Director at IPA Capital Markets’ Palo Alto office, led the advisory and financing effort.
“There are few developers in the Bay Area that have been able to secure financing and break ground in today’s challenging market, but The Martin Group has now done it twice in the past six months,” said Roth. “It’s a testament to the quality of their product and the strength of the location. We marketed the opportunity extensively, receiving competitive construction loan quotes from six different lenders.”
The Arbello project will feature 120 residential rental units in addition to approximately 29,000 square feet of office space. Planned amenities include a coworking space, wellness center, clubhouse, landscaped courtyard, and a rooftop deck.
The development represents a continued confidence in well-located, high-quality mixed-use projects in the Bay Area despite broader market headwinds.
