**San Mateo Apartment Collection Secures $170M Refinancing Deal**
JLL Capital Markets has successfully arranged a $170 million first mortgage refinancing for the Bay Meadows Apartment Collection, a portfolio of four luxury multifamily communities totaling 390 units in San Mateo, California.
The financing was structured as a five-year, fixed-rate loan by New York Life Real Estate Investors. JLL’s senior managing directors Bruce Ganong and Chris Gandy, director Elijah Lax, and analyst Tomie Vega represented the borrowers, Stockbridge and Wilson Meany, in the transaction.
Located in the heart of the Bay Meadows master-planned community, the portfolio benefits from its proximity to the Hillsdale Caltrain Station, offering convenient access to Silicon Valley and the broader San Francisco Peninsula.
The Bay Meadows Apartment Collection includes the following properties:
– **Field House** – 108 units, built in 2015
– **Quimby** – 70 units, completed in 2017
– **Russell** – 158 units, delivered in 2017
– **Hawthorne** – 54 units, recently completed in 2024
“The successful refinancing of Bay Meadows Apartment Collection highlights the enduring strength of well-located, institutional-quality multifamily assets in the San Francisco Peninsula market,” said Bruce Ganong of JLL. “This portfolio’s prime location, coupled with its mix of unit types and amenities, positions it as a premier residential offering in the heart of Silicon Valley.”
