BWE, a national commercial and multifamily mortgage banking company, is pleased to announce the successful arrangement of a $65 million bond financing for Ivy Park at Milpitas, a premier 199-unit senior living community located in Milpitas, California, just minutes from downtown San Jose.
The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development, with Oakmont Management Group, one of the nation’s leading senior housing operators, managing the community. Ryan Stoll, National Director of Seniors Housing and Care, and Taylor Mokris, Senior Vice President of Seniors Housing and Care at BWE, arranged the financing.
The loan was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank, and features five years of interest-only payments along with a favorable covenant structure. The financing provides the sponsor with enhanced flexibility and a long-term runway to complete lease-up and drive operational performance.
“This was a complex transaction requiring coordination across multiple stakeholders, and we’re proud to have delivered a tailored capital solution that positions Ivy Park at Milpitas for long-term success,” said Ryan Stoll. “Oakmont’s operational improvements and deep local expertise helped make this financing possible. Their leadership continues to enhance performance and elevate the resident experience.”
Ivy Park at Milpitas is a 199-unit, Class A senior living community offering Independent Living, Assisted Living, and Memory Care. Following a recent transition in management, Oakmont implemented a number of targeted operational enhancements that were underwritten into the bond financing, reinforcing the long-term viability of the community.
Residents benefit from a robust amenity package that promotes wellness, engagement, and comfort, including all-day dining at The Vine at Ivy restaurant, a fitness center, indoor heated pool, library, salon, movie theater, and a landscaped outdoor courtyard. With 24-hour staffing, concierge services, and a dynamic social calendar, Ivy Park delivers a high-quality lifestyle in one of the most supply-constrained and affluent senior housing markets in the country.
Strategically located on a major thoroughfare in the Milpitas submarket, the community enjoys strong visibility and traffic counts, reinforcing its value within the broader San Jose MSA.
BWE stands as a national, full-service commercial and multifamily mortgage banking company committed to elevating real estate financing. Putting clients’ goals first, our experienced and trusted advisors offer comprehensive capital solutions by combining enduring debt and equity relationships with unparalleled local market insights across our 40+ offices and national servicing platform.
