Large Multifamily Project Receives Millions In Additional Capital
An under-construction multifamily community in San Jose just received a significant loan investment from Preferred Apartment Communities. The $137.5M investment will back a 551-unit Class-A project near the future Berryessa BART station. The project is a partnership with Western National Group and Anchor Real Estate Capital.
The multifamily community, called The Platform, will have about 39K SF of retail as well as two resort-style pools, two fitness centers, outdoor kitchen areas, a dog salon and two bike stations, among other amenities. The property is near Highway 101 and within the Market Park San Jose master-planned community and will be within walking distance of BART. Construction is expected to be completed Q3 2019.