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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.
- ◦Sale/Acquisition
- ◦Financing




