California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
JLL Arranges $58M Financing for San Jose MF
JLL arranged $57.5 million in financing for Latitude 37, a two-phase, 172-unit luxury mid-rise apartment community in South San Jose. JLL worked on behalf of the borrower to arrange the 10-year, fixed-rate non-recourse loan through a correspondent life company lender. Loan proceeds refinanced and consolidated the two existing construction and agency loans.
Latitude 37 is located on three acres at 1255 and 1277 Babb Ct. in the Willow Glen submarket. Phase I was completed in 2012 and Phase II was completed in 2018. Each phase encompasses 86 units featuring a mix of studio through three-bedroom units averaging 1,116 square feet.
Community amenities include a fully-equipped fitness center, a swimming pool and spa, outdoor lounge with grilling area, subterranean parking and electric car charging stations.
The JLL Capital Markets team representing the developer, Pacifica Enterprises, was led by Aldon Cole and Daniel Pinkus.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development




