Holliday Fenoglio Fowler (HFF) has arranged $201m construction loan for the development of The Reserve, a 636-unit luxury multi-housing community in San Jose, California.
The HFF team worked on behalf of Greystar to secure the financing through Otéra Capital.
Located at 897 S. Winchester Boulevard in San Jose, the Reserve will feature a combination of one- and two-bedroom loft-style units averaging 869 sq ft as well as more than 8,000 sq ft of street-level retail.
The two four- and five-storey, podium-style buildings will be built above two levels of subterranean parking, and will include amenities, such as a swimming pool, rooftop lounge, barbecue area, fitness centre with yoga rooms, clubhouse with four private dining rooms, business centre, pet spa and dog run.
The property, which is scheduled to be completed in 2020, will seek LEED Green certification. It will also feature environmentally-conscious finishes, including electric car charging stations.
HFF senior director Jordan Angel said: “Otéra Capital is a great fit as a capital partner for Greystar’s development, which will deliver some of the most well-appointed new units in the San Jose submarket.”