Barings provided the financing for the mixed-use academic and condo building at Union Theological Seminary.
The funds will go towards seven projects in San Jose, Calif., which are expected to start construction in 2021 and 2022.
Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond represented the seller of the 316-unit asset.
The buyer will raze the existing buildings to develop 115 for-sale rowhouses at the site, using $70.4 million in construction financing.
The new communities in Contra Costa and Santa Rosa counties are targeting Northern California’s acute affordable housing shortage.
Fannie Mae provided the loan for 16 apartment properties through PGIM Real Estate’s agency lending program.
KWA Construction is building 880 LYN on Lake Carolyn in Irving, Texas, scheduled for completion in October 2021.
MSD Partners provided the financing package for the development of the 19-story high-rise on the Upper West Side.
