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Hines Apartments in Daly City Secure Life Company Refi
CBRE arranged $25 million in financing for 88 Hillside Apartments, a 95-unit multifamily community in Daly City, on behalf of Hines. Mike Walker, Jesse Weber, Andrew Behrens and Brad Zampa on the CBRE Debt and Structured Financing team in San Francisco secured the five-year loan from a life company.
“We secured one of the lowest loan spreads we’ve seen in the past year on this financing. This is a tribute to the compelling real estate and relationship opportunity with Hines,” said Walker. “The property’s location, with close proximity to the Daly City BART Station, is easily accessible to top employers in both San Francisco and the inner Peninsula. With great demographics and strong market fundamentals, the property is well positioned for future rent growth.”
Built in 2011, 88 Hillside features 95 units across five buildings, totaling 109,318 square feet. The community has large one-, two- and three-bedroom floor plans and is currently 96% leased.
- ◦Financing
