Financing Secured for Arbello Mixed-Use Development in San Mateo

News Summary

IPA Capital Markets has secured $61 million in financing for the Arbello mixed-use development located in San Mateo, California. The project will feature 120 residential units and 29,000 square feet of office space. Designed for modern living, Arbello includes amenities such as coworking spaces, a wellness center, and a rooftop deck. The financing was facilitated by IPA Capital Markets, leveraging a competitive market of lenders. The Martin Group has a proven track record in similar projects, aligning with urban development trends that enhance local economies.

IPA Capital Markets Secures $61 Million for Arbello Development in San Mateo

IPA Capital Markets, the financing division of Marcus & Millichap, has successfully secured $61 million in financing for the construction of Arbello, a significant mixed-use development situated at 477 9th Avenue in San Mateo, California. The project is poised to enhance the local community, combining residential and office spaces in a modern architectural design.

Project Overview

Arbello is set to feature a five-story building that will include 120 residential units, which are available for rent. In addition, the development will provide approximately 29,000 square feet of office space, catering to the growing demand for both housing and workplace facilities in the area. This development is expected to attract professionals and families alike, addressing the need for a balanced community setup.

Amenities Designed for Modern Living

The design of Arbello incorporates various amenities aimed at enhancing the living experience for its residents and those working in the office space. Key features of the development will include a co-working space, allowing residents and businesses to collaborate in a productive environment. There will also be a wellness center, promoting physical health and well-being for community members.

Moreover, the property will boast a clubhouse for social gatherings and community events, an expansive courtyard for recreational activities, and a stunning rooftop deck that offers beautiful views of the surroundings. These amenities are designed to foster a sense of community and provide residents with opportunities for both relaxation and productivity.

Securing Financing and Key Factors

Brandon Roth, managing director of IPA Capital Markets’ Palo Alto office, played a crucial role in advising and marketing the financing on behalf of The Martin Group and JPF Capital. Over the past six months, The Martin Group has successfully secured financing for construction projects on two occasions. Roth attributes the project’s success in obtaining financing to its quality and prime location.

To ensure competitive financing options, IPA Capital Markets created a competitive market by obtaining construction financing quotes from six lenders. This strategic approach allowed the developers to secure favorable terms for the project, demonstrating the effective financing solutions that IPA Capital Markets provides.

About IPA Capital Markets and Its Role

IPA Capital Markets specializes in providing a range of commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, as well as sponsor equity. This expertise is essential for developers looking to navigate the complexities of financing construction projects.

Marcus & Millichap, the parent company of IPA Capital Markets, is known for its significant presence in commercial real estate investment sales, financing, research, and advisory services across the United States and Canada. Their experience in the commercial real estate sector supports developments like Arbello, enabling effective execution from concept to completion.

The Martin Group and Its Focus

The Martin Group is dedicated to developing ground-up and value-add residential and mixed-use properties, particularly in infill housing locations. Their focus on enhancing urban spaces aligns with the vision behind Arbello, as it seeks to create a vibrant community that meets the needs of modern inhabitants.

Conclusion

The financing secured for Arbello marks a significant step forward in the development of mixed-use properties in San Mateo, further positioning the area for growth. With a well-planned design and comprehensive amenities, Arbello is set to become a highly sought-after location for both residents and businesses alike, contributing positively to the local economy.

Deeper Dive: News & Info About This Topic

Additional Resources

• Connect CRE: Financing Secured for Arbello Mixed-Use Development in San Mateo
• Rebusiness Online: IPA Arranges $61M Construction Financing for San Mateo
• Yield Pro: Arbello Development Overview
• Almanac News: San Mateo County Approves Loan Fund for Farmworker Housing
• Encyclopedia Britannica: Mixed-use Development