M&T Provides $93.5M Loan for San Jose Luxury Apartment Complex

JRK Property Holdings, a Los Angeles-based real estate investment firm, has acquired  a 301-unit apartment complex in San Jose, Calif., via its value-add fund, for $93.5 million, with the help of $61 million in financing. The financing — a 10-year, fixed-rate Freddie Mac (FMCC) loan at a 5.37 percent interest rate-– was supplied through a joint arrangement between Institutional Property Advisors Capital Markets and M&T Bank (MTB). Institutional Property Advisors, a division of Marcus & Millichap (MMI), used the team of Brian Eisendrath, Cameron Chalfant and Jake Vitta to arrange the financing.

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