Värde Provides $105M Takeout Refi on Belmont Apartments

Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, provided Windy Hill Property Ventures with $105 million in construction takeout refinancing for the Artisan Crossing apartment complex in Belmont. Windy Hill specializes in real estate development in the Greater Bay Area.

The bridge financing supports the lease-up of the newly developed 250-unit multifamily community, which is positioned to capture demand for premium rental options around the Silicon Valley area. The floating rate loan has a three-year initial term with two one-year extension options and was arranged by a JLL team led by Chris Gandy and Tom Gilliland.

“We are delighted to partner with Windy Hill Property Ventures on Artisan Crossing, a rare institutionally scaled Mid-Peninsula multifamily community in the high-demand Silicon Valley housing market,” said Jon Miller, managing director at Värde. “Värde takes pride in being a trusted capital solutions partner for strong commercial real estate sponsors.”

Artisan Crossing is located near the Belmont Caltrain station and features amenities such as a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.