IPA Capital Markets, a division of Marcus & Millichap, recently arranged $62,139,000 in acquisition financing for DUO Apartments – a 301-unit multifamily asset located in San Jose. Brian Eisendrath, Cameron Chalfant and Jake Vitta originated the loan on behalf of an undisclosed borrower while Salvatore Saglimbeni Stanford Jones and Philip Saglimbeni brokered the sale of the leasehold interest.
The 10-year fixed rate loan is interest only with a 5.37% rate and 65% Loan to Value ratio (LTV). Built on 4.6 acres in 2020 this property is 11 miles from Downtown San Jose with nearby access to Santa Teresa light rail station as well as U.S Route 101 and State Route 85 highways making it ideal for commuters looking for convenience when travelling around town or further away destinations alike .
Marcus & Millichap are beginning fall season by hosting two webcasts providing insights into “Positioning For Opportunity In Today’s Multifamily Market” from both their own experts as well industry leaders such as Hessam Nadji who will be joined by former Goldman Sachs chairman Lloyd Blankfein during his conversation on September 26th . On September 27th 2023 Connect Orange County event will take place at VEA | Newport Beach Marriott concurrently with Connect Healthcare Real Estate taking place over two days starting that same day .
