MINNEAPOLIS – Värde Partners, a leading global alternative investment firm specializing in credit and credit related assets, today 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. Artisan Crossing is conveniently located near the Belmont Caltrain and features generous amenities, such as a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.
“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.
About Värde Partners
Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages over $13 billion in assets with teams in North America, Europe and Asia Pacific focused on Corporate & Traded Credit, Real Estate and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com.
About Windy Hill Property Ventures
Windy Hill Property Ventures (“WHPV”) is known for our deliberate proximity to our investment properties in both multifamily and commercial markets. WHPV has successfully acquired, repositioned and sold more than 50 Bay Area assets valued in excess of $750 Million since its inception. Acquisitions have included multifamily, commercial and mixed-use assets. WHPV currently owns and operates a dozen local assets as long term holds valued in excess of $750 million.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Media Contact
Värde Partners Communications and Public Affairs