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California  + Bay Area  + Finance  | 

IPA Arranges Acquisition Loan for San Jose’s The James Apartments

IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, has arranged $44.3 million in government agency financing for the purchase of The James Apartments, a 190-unit multifamily asset in San Jose.

“San Jose’s strong multifamily fundamentals, including the lowest vacancy rate in the San Francisco Bay Area, contributed to the appeal of this asset for lenders,” said Brian Eisendrath, executive director, IPA Capital Markets.

Eisendrath, IPA senior director Cameron Chalfant and IPA managing director Jake Vitta sourced seven-year, interest-only financing on behalf of the borrower. The loan-to-value is 60%.

The James Apartments was completed in 2020 in Downtown San Jose’s Historic District, close to San Pedro Square, San Jose State University and public transportation.

Read More News Stories About: Marcus & Millichap
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IPA's Eisendrath

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing
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