Marcus & Millichap's IPA Capital Markets Arranges $61 Million Construction Financing for San Mateo, California Mixed-Use Multifamily Property
Marcus & Millichap's IPA Capital Markets Arranges $61 Million Construction Financing for San Mateo, California Mixed-Use Multifamily Property
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The five-story property will offer 120 residential units for rent and approximately 29,000 square feet of office space. Amenities will include a coworking space, wellness center, clubhouse, expansive courtyard, and rooftop deck.
Brandon Roth, managing director in IPA Capital Markets' Palo Alto office, advised and marketed the financing on behalf of The Martin Group and JPF Capital.
'There are few developers in the Bay Area that have been able to secure financing and start construction in today's market environment, but The Martin Group has now done it twice in the past six months,' said Roth. 'It's a testament to the quality of their product and their project location. We were able to create a competitive market, securing construction financing quotes from six lenders.'
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 the United States and Canada. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.
About The Martin Group
The Martin Group is a real estate investment firm developing ground-up and value-add residential and mixed-use properties focusing on infill housing located near durable demand drivers in supply-constrained markets. Headquartered in Oakland, CA, The Martin Group has acquired and developed over 24 million square feet since its founding. For more information, please visit: www.themartingroup.com
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