$89M Construction Loan to Propel Bayview Multifamily
An $89 million construction loan was recently provided to AMCAL, a developer of market rate, affordable and workforce housing in California, Texas and Washington. The loan will finance the development of Bayview, a seven-story 186-unit apartment building with 257 parking spaces located on a 2.3-acre site in Emeryville. Construction is anticipated to begin this month.
The property’s 186 units are designed with floor plans ranging from studio to three- bedroom units and townhome-style residences, and offer unobstructed views of the Bay, and Golden Gate and Bay bridges. Amenities at the property include a fitness center, co-working spaces, a clubhouse, and an indoor/outdoor roof deck.
The financing was closed by CIM Group and arranged by Bryan Gortikov of Gortikov Capital.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!