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California  + Bay Area  + Apartments  | 

Interstate Equities Pays $84M for Hercules Multifamily

JLL Capital Markets arranged the $83.5-million sale and $54.275-million financing of The Dylan, a 232-unit apartment community in Hercules. JLL represented the seller, Hercules Development Partners, in the sale to Interstate Equities Corporation and arranged a five-year acquisition loan through Freddie Mac.

Senior managing directors Ryan Wagner, Brandon Geraldo and Matt Kroger and director Fatai Alashe of JLL’s Capital Markets Investment Sales and Advisory team represented the seller. Executive managing director Charles Halladay and director Matt Cimino led the Capital Markets Debt Advisory team representing the borrower.

Completed in 2022, The Dylan is located along San Pablo Bay at 2200 John Muir Pkwy. “The East Bay continues to attract significant investor attention due to its relative affordability compared to core Bay Area markets, robust income growth projections and limited new supply,” said Wagner. “Hercules, with its unique waterfront position and excellent regional connectivity, has emerged as a standout performer.”

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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
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