SAN FRANCISCO – JLL announced today that it has raised capital totaling $335.6 million for the development of Gateway at Millbrae Station, a transit-oriented, mixed-use residential and office property adjacent to the Millbrae BART and Caltrain Stations in Millbrae, California.

JLL worked on behalf of the developer, Republic Urban Properties LLC, to arrange joint venture equity from Principal Real Estate Investors and a floating-rate construction loan through U.S. Bank.

Gateway at Millbrae Station is fully entitled to include 320 apartment homes and 157,000 square feet of Class A office space in a six-story building with podium-style parking. The property will also include a combined 36,000 square feet of ground-floor retail and 645 parking spaces. The residential component will offer a mix of studio, one-, two- and three-bedroom homes. The project is due for completion in summer 2022.

The JLL Capital Markets equity and debt placement team included Scott Bales, Brandon Roth, Peter Yorck and Nolan Moore.

“Gateway at Millbrae Station is one of the top transit-oriented development opportunities on the West Coast,” Roth said. “It’s the only transit center in the entire Bay Area that includes both BART and Caltrain stops, providing quick train rides to the top employment centers in Silicon Valley and San Francisco, as well as San Francisco International Airport.”

SAN FRANCISCO – JLL announced today that it has closed the $103.8 million sale of LINQ, a 230-unit, transit-oriented luxury apartment community in the San Francisco Bay Area community of San Jose, California.

JLL marketed the property exclusively on behalf of the seller, a partnership between Republic Urban Properties LLC and The Core Companies, and procured the buyer, Stockbridge, on behalf of the firm’s Value Fund III, a closed-end, value-add vehicle.

LINQ is located at 1700 Newbury Park Drive less than a half mile from the future Berryessa BART station. The property is less than 10 minutes from downtown San Jose, where more than 10 million square feet of commercial space is expected to deliver in the next 10 years. First-class amenities at the community include a resort-style pool and spa, state-of-the-art fitness center, yoga center, outdoor courtyard with grilling stations and a 7,400-square-foot Skydeck with 360-degree views of the Silicon Valley. Floor plans include a variety of studio, one- and two-bedroom options averaging 818 square feet with features, including stainless-steel appliances, plank flooring, in-unit washers and dryers and personal balconies. In addition, the property encompasses more than 11,000 square feet of ground-floor retail, which is 100% occupied.

The JLL Capital Markets team representing the seller included Managing Director Scott Bales, Director Peter Yorck and Analyst Nolan Moore.

SAN FRANCISCO, CA – October 11, 2018 – HFF announces the $104 million sale of Meridian at Midtown, a 218-unit luxury apartment community with approximately 14,000 square feet of ground-floor retail in San Jose, California.

The HFF team marketed the property on behalf of the seller, Republic Urban Properties LLC, and procured the buyer.

Meridian at Midtown is situated at 1432 W. San Carlos Street less than one mile west of downtown and just north of Interstate 280.  The property’s Midtown location has earned it a Walk Score® of 90 and provides a true live-work-play setting in one of the Bay Area’s most sought-after submarkets.  Built in 2015, the mid-rise property offers a range of amenities, including three state-of-the-art fitness centers, conference rooms, a resort-style pool with cabanas, community lounge space, dog park, outdoor courtyard, playground and ground-floor retail amenities such as The Breakfast Club and Starbucks.  Residential units include a variety of studio, one- and two-bedroom configurations averaging 875 square feet each.

The HFF investment advisory team representing the seller included managing director Scott Bales, director Peter Yorck and analyst Eric Bet.

“Meridian at Midtown’s central location is within a mile of Google’s proposed campus and the Diridon Station development, which will dramatically shift the core of downtown San Jose closer to Midtown and allow the property to continue to experience tremendous rent growth far into the future,” Bales said.