Gortikov Capital successfully arranged a $150 million bridge loan for The Grad, a state-of-the-art student housing tower located near San Jose State University. Led by Bryan Gortikov, the capital markets team secured the senior bridge loan from ACORE Capital with favorable terms and minimal restrictions on behalf of AMCAL Equities and its CEO Percy Vaz.
According to Gortikov, it was an exceptional experience working with such a reputable partner like AMCAL on this impressive property. Despite challenging economic conditions and stricter lending standards, they were able to exceed expectations in fulfilling their assignment for Percy and his team at AMCAL.
The Grad was developed in 2020 by AMCAL Equities as an exclusive housing option for students attending SJSU. Its prime location just 400 feet from campus makes it highly desirable as there is currently limited availability of beds for only about 25% of the university’s population. Additionally, nearby market-rate apartments are among some of the most expensive in the nation.
