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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.”
- ◦Sale/Acquisition



