Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, announced that it has provided Windy Hill Property Ventures, a firm specializing in real estate development in the Greater Bay Area, with $105 million in construction takeout refinancing for the Artisan Crossing apartment complex in Belmont, California.
The bridge financing supports the lease-up of the newly developed 250-unit multifamily community, which is positioned to capture demand for premium rental options around the Silicon Valley area. The floating rate loan, which has a three-year initial term with two one-year extension options, was arranged by JLL led by Chris Gandy and Tom Gilliland.
“We are delighted to partner with Windy Hill Property Ventures on Artisan Crossing, a rare institutionally scaled Mid-Peninsula multifamily community in the high-demand Silicon Valley housing market,” said Jon Miller, Managing Director at Värde. “Värde takes pride in being a trusted capital solutions partner for strong commercial real estate sponsors.”
Värde has 30 years of experience investing in real estate and has originated more than $7 billion in commercial real estate loans since 2017. Through its CRE lending program, Värde is a non-recourse, balance sheet lender financing all major asset classes. Värde focuses on providing flexible capital and certainty of execution to meet the needs of experienced real estate investors.
