News Summary
IPA Capital Markets has secured $61 million in financing for Arbello, a new mixed-use development in San Mateo, California. This project will feature 120 residential rental units and 29,000 square feet of office space. With various amenities like a coworking space and wellness center, Arbello aims to address the growing demand for housing and workspaces in the area, contributing significantly to the local economy.
IPA Capital Markets Secures $61 Million for Arbello Mixed-Use Development
IPA Capital Markets has successfully secured $61 million in financing aimed at the construction of a new mixed-use development named Arbello, located in San Mateo, California. The funding marks a significant step toward the realization of a project that is set to reshape the local landscape by combining both residential and commercial spaces.
Details of the Arbello Development
Arbello will be situated at 477 9th Avenue and will be built as a five-story structure. The development will consist of 120 residential rental units, offering much-needed housing in the area. Alongside these residential units, the project will also feature approximately 29,000 square feet of office space, catering to businesses and creating a vibrant mixed-use environment.
Amenities for Future Residents
The planned amenities for the residents of Arbello exhibit a focus on modern living and community engagement. Among these amenities are:
- A coworking space to facilitate remote work and collaboration
- A wellness center to promote health and fitness among residents
- A clubhouse for social gatherings and events
- An expansive courtyard providing outdoor leisure space
- A rooftop deck offering scenic views and relaxation
Financial Details and Project Background
The financing for Arbello was facilitated on behalf of The Martin Group and JPF Capital, reflecting a strong partnership with experienced developers. Brandon Roth, who is the managing director in IPA Capital Markets’ Palo Alto office, played a crucial role in advising and marketing this financing. The Martin Group’s track record was underscored by their successful acquisition of financing and commencement of construction on two projects within the last six months.
Competitive Financing Landscape
To ensure favorable financing conditions, six lenders were approached to create a competitive environment for the Arbello project. This strategic move aimed to not only secure the required funds but also ensure that the development could commence seamlessly, given the demand for such mixed-use properties in the San Mateo area.
Focus on Supply-Constrained Markets
The Martin Group, which is headquartered in Oakland, California, has specialized in developing residential and mixed-use properties, particularly in supply-constrained markets. The company has demonstrated its capability with over 24 million square feet developed since its inception, solidifying its status as a key player in the real estate industry.
About IPA Capital Markets and Marcus & Millichap
IPA Capital Markets is known for offering commercial real estate capital market solutions, which encompass both debt and equity financing. This transaction represents a notable contribution to their portfolio. Marcus & Millichap, the parent company, is recognized as a leading brokerage firm in commercial real estate investment sales, financing, and advisory services, further enhancing the credibility of the Arbello development.
Conclusion
As construction moves forward with the backing of significant financing, Arbello is poised to become a valuable addition to San Mateo, merging residential comfort with office convenience. This project reflects both the needs of a growing population and the strategic foresight of its developers. With modern amenities and a focus on community, Arbello is anticipated to be an attractive destination for residents and businesses alike.
Deeper Dive: News & Info About This Topic
Additional Resources
- Rebusiness Online
- Wikipedia: San Mateo, California
- Business Wire
- Google Search: San Mateo California
- BDT Online
- Encyclopedia Britannica: San Mateo
- Yield Pro
- Google News: Arbello San Mateo
Author: Construction CA News
CALIFORNIA STAFF WRITER The CALIFORNIA STAFF WRITER represents the experienced team at constructioncanews.com, your go-to source for actionable local news and information in California and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Rose Parade, Coachella, Comic-Con, and the California State Fair. Our coverage extends to key organizations like the California Building Industry Association and Associated General Contractors of California, plus leading businesses in technology and entertainment that power the local economy such as Apple and Alphabet. As part of the broader network, including constructionnynews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic landscape across multiple states.
