11/21/2022 0 Comments Miro apartments san joseJLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. “In turbulent times, there’s always a flight to quality, and Miro is the highest quality apartment community ever built in San Jose.” “There was an incredible amount of enthusiasm from lenders for this property, and Pacific Life was willing to provide long-term, fixed-rate financing while Miro is still in lease-up,” said Roth. The JLL Capital Markets Debt Advisory team representing the borrower was led by Charles Halladay, Brandon Roth, Lillian Roos, Spencer Bergthold and Elijah Lax. We received a great pairing with Pacific Life, and we’re excited to embark on this new relationship.” The ground floor of the tallest building in San Jose features a Starbucks and future full-service Italian restaurant and bar by Vine Hospitality.Īccording to Bayview Development Group, “This exceptional JLL team executed on both a challenging construction loan due to the pioneering nature of this project and this more recent permanent financing, in an unusually volatile market. Differentiating community amenities include nearly an acre of outdoor space, a pool and fitness deck, two rooftop sky lounges and a private art gallery. The bold and modern designed two-tower 28-story Miro features studio-, one- and two-bedroom units averaging 933 square feet with floor-to-ceiling windows, contemporary Italian cabinetry and gracious balconies. JLL represented the borrower, Bayview Development Group, to secure financing through Pacific Life. Miro also includes around 20,000 square feet of ground-floor retail space, occupied by Starbucks and an Italian restaurant.SAN FRANCISCO, J– JLL Capital Markets announced today that it has arranged the $345 million refinancing for Miro, a Class A, two-tower, 630-unit, high-rise multi-housing community located in downtown San Jose, California. The community features nearly 1 acre of outdoor space, a pool and fitness deck, two rooftop lounges, and a private art gallery. The new loan also points to confidence in this landmark project and the city’s urban core, Mercury News highlighted.ĭesigned by Steinberg Hart and constructed by Suffolk Construction, the 360-unit property encompasses a mix of studio, one-, and two-bedroom units, averaging 933 square feet. These investment and finance trends has thus far proven resilient in the face of economic uncertainties. The refinance of this core asset comes alongside a wider trend toward high-quality, centrally located properties. Flight-to-Quality Drives Multifamily Capital Markets Santa Clara St., the property is in downtown San Jose, right across from City Hall. Miro is currently in the lease-up phase, according to Brandon Roth, senior director at JLL. The note replaces the $288.8 million, five-year, interest-only construction loan Bayview received in 2017 through Broad Street Real Estate Credit Partners III, a fund managed by Goldman Sachs.īayview broke ground on the two- tower development in 2017 and topped out in 2020 as the tallest building in the city. JLL secured the long-term, fixed-rate financing through Pacific Life. Bayview Development has received $345 million in refinancing for the Miro, a 28-story, Class A multifamily development, known as San Jose’s tallest building.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |