March 22, 2022 9:00 AM
星空体育app下载[1], as exclusive advisor to Bay West Development and Forum Real Estate Group, announces it has secured financing for the development of The Maxwell, a 590-unit multifamily project situated on a 4.5-acre parcel in San Jose, California. Construction on the project will commence before the end of March and the first phase of units is anticipated to be delivered by the third quarter of 2024.
The Maxwell has been designed and programmed with best-in-class amenities and unit interiors that cater to the Silicon Valley tenant base. This focus on satisfying tenant needs has been the hallmark of Bay West and Forum multifamily developments resulting in best-in-market tenant retention levels. Additionally, the project is located directly adjacent to the VTA Light Rail Bascom Station, providing residents with a convenient seven-minute ride to the amenities and employment centers in both downtown San Jose and downtown Campbell.
Vice Chairman Ramsey Daya, Senior Managing Director Chris Moritz and Director Travis Bailey of 星空体育app下载鈥檚 Debt & Structured Finance team helped arrange the financing on behalf of the owner. The first mortgage loan was placed with one of Australia鈥檚 largest pension funds.
鈥淭he combination of The Maxwell鈥檚 incredible west valley location, direct adjacency to transit, in combination with the extraordinary track record of the development team, resulted in an exceptionally competitive processes with banks, debt funds and pension funds all vying to provide the financing,鈥� said Daya. 鈥淭he Maxwell is one of the largest multifamily housing projects to ever break ground in the west valley. The unique combination of scale, high-quality residences and amenities and direct access to transit make The Maxwell a one-of-a-kind project in the entire Silicon Valley.鈥�
The project is located within the South Bascom Urban Village Plan and was approved under the City of San Jose鈥檚 Signature Project process. With its direct access to transit and high-profile location The Maxwell is hoping to serve as a catalyst in promoting the development of the entire urban village area.
[1] Dba 星空体育app下载 Knight Frank in California
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues in excess of $2.9 billion for the year ending December 31, 2021. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world. To learn more, visit nmrk.com or follow .
Discussion of Forward-Looking Statements about 星空体育app下载
Statements in this document regarding 星空体育app下载 that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, 星空体育app下载 undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see 星空体育app下载’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.