Marcus & Millichap’s Institutional Property Advisors Brokers $203 Million Sale and Arranges $127.8 Million Financing for Silicon Valley Multifamily Asset
Marcus & Millichap's Institutional Property Advisors (IPA) has successfully brokered the sale and financing of Summerwood Apartments in Santa Clara, California. The 468-unit multifamily property sold for $203.15 million to Interstate Equities (IEC), with IPA arranging $127.819 million in agency financing.
The five-year loan features a 5.39% fixed interest rate, 35-year amortization, and 65% loan-to-value ratio. The property, located near Downtown Santa Clara, includes one- and two-bedroom garden-style apartments with amenities such as a pool, clubhouse, fitness center, and dog park. This marks IEC's first major Silicon Valley investment since 2019.
Marcus & Millichap's Institutional Property Advisors (IPA) ha interamente gestito la vendita e il finanziamento degli Summerwood Apartments a Santa Clara, California. La proprietà multifamiliare di 468 unità è stata venduta per 203,15 milioni di dollari a Interstate Equities (IEC), con IPA che ha organizzato 127,819 milioni di dollari in finanziamenti tramite agenzia.
Il prestito quinquennale presenta un tasso di interesse fisso del 5,39%, un'amortizzazione di 35 anni e un rapporto prestito-valore del 65%. La proprietà, situata nei pressi del centro di Santa Clara, include appartamenti in stile giardino con una e due camere da letto, insieme a servizi come piscina, club house, centro fitness e parco per cani. Questo rappresenta il primo grande investimento di IEC nella Silicon Valley dal 2019.
Institutional Property Advisors (IPA) de Marcus & Millichap ha gestionado exitosamente la venta y el financiamiento de los Summerwood Apartments en Santa Clara, California. La propiedad multifamiliar de 468 unidades se vendió por 203.15 millones de dólares a Interstate Equities (IEC), con IPA organizando 127.819 millones de dólares en financiamiento de agencia.
El préstamo a cinco años cuenta con una tasa de interés fija del 5.39%, una amortización de 35 años y una relación préstamo-valor del 65%. La propiedad, ubicada cerca del centro de Santa Clara, incluye apartamentos estilo jardín de una y dos habitaciones, con comodidades como piscina, casa club, gimnasio y parque para perros. Esta es la primera gran inversión de IEC en Silicon Valley desde 2019.
Marcus & Millichap의 Institutional Property Advisors (IPA)는 캘리포니아 산타클라라의 Summerwood Apartments 판매 및 자금 조달을 성공적으로 중개했습니다. 468세대의 다가구 부동산은 Interstate Equities (IEC)에 2억 3천 15만 달러에 판매되었으며, IPA는 1억 2천7819만 달러의 기관 자금을 배치했습니다.
5년 대출은 5.39%의 고정 이자율, 35년 상환, 65%의 대출 대 가치 비율을 특징으로 합니다. 이 부동산은 산타클라라 시내 근처에 위치하며, 수영장, 클럽하우스, 피트니스 센터, 애완견 공원 등의 편의 시설이 있는 1베드룸과 2베드룸 정원 스타일 아파트가 포함되어 있습니다. 이는 2019년 이후 IEC의 첫 번째 주요 실리콘 밸리 투자입니다.
Institutional Property Advisors (IPA) de Marcus & Millichap a réussi à intermédié la vente et le financement des Summerwood Apartments à Santa Clara, Californie. La propriété multifamiliale de 468 unités a été vendue pour 203,15 millions de dollars à Interstate Equities (IEC), avec IPA organisant 127,819 millions de dollars de financement par agence.
Le prêt de cinq ans présente un taux d'intérêt fixe de 5,39 %, une amortissement de 35 ans et un ratio prêt-valeur de 65 %. La propriété, située près du centre-ville de Santa Clara, comprend des appartements de style jardin avec une et deux chambres, ainsi que des commodités telles qu'une piscine, un club, un centre de fitness et un parc pour chiens. Cela marque le premier grand investissement d'IEC dans la Silicon Valley depuis 2019.
Marcus & Millichap's Institutional Property Advisors (IPA) hat erfolgreich den Verkauf und die Finanzierung der Summerwood Apartments in Santa Clara, Kalifornien, vermittelt. Die 468-Einheiten-Wohnanlage wurde für 203,15 Millionen Dollar an Interstate Equities (IEC) verkauft, wobei IPA 127,819 Millionen Dollar an Agenturfinanzierung arrangiert hat.
Das fünfjährige Darlehen weist einen festen Zinssatz von 5,39 %, eine Amortisation von 35 Jahren und ein Verhältnis von Kredit zu Wert von 65 % auf. Die Immobilie, die sich in der Nähe der Innenstadt von Santa Clara befindet, umfasst Gartenwohnungen mit ein und zwei Schlafzimmern sowie Annehmlichkeiten wie einen Pool, ein Clubhaus, ein Fitnesscenter und einen Hundespielplatz. Dies ist die erste große Investition von IEC im Silicon Valley seit 2019.
- Successful completion of a major $203.15M property sale transaction
- Secured $127.819M in agency financing during period of interest rate volatility
- Company closed 7,546 transactions in 2023 with sales volume of ~$43.6B
- None.
Insights
This
The
The transaction marks a pivotal moment for Santa Clara's multifamily market. With 468 units changing hands, this deal offers valuable pricing insights for the region. The property's mix of one and two-bedroom units and comprehensive amenity package aligns with current renter preferences in the tech-centric Silicon Valley market. The sale price of approximately
Interstate Equities 's strategic timing suggests confidence in Santa Clara's market recovery, particularly notable as the region experiences improving market conditions despite broader tech sector uncertainties. The successful execution of both the sale and financing components demonstrates institutional investors' sustained interest in Silicon Valley's multifamily sector, even amid interest rate volatility.
The
“IEC is excited to announce the acquisition of Summerwood Apartments, our first major investment in Silicon Valley since 2019,” said Brendan Gibney, director of investments at IEC. “The asset’s strong leasing performance, combined with Santa Clara’s improving market conditions, positions it as a valuable addition to our growing portfolio. IEC would like to thank the IPA platform for its help in sourcing the opportunity and securing financing, especially during this period of interest rate volatility.”
Terms of the five-year loan include a
The property is located near
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout
View source version on businesswire.com: https://www.businesswire.com/news/home/20241218608413/en/
Gina Relva, VP Public Relations
Gina.Relva@MarcusMillichap.com
Source: Marcus & Millichap, Inc.
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