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Lane Partners, Bay West Development Plan Sunnyvale MF
Lane Partners and Bay West Development secured $40.7 million in non-recourse construction financing and preferred equity for the development of 311 Mathilda St., a 75-unit multifamily project located in downtown Sunnyvale, CA. California Bank and Trust provided the first mortgage construction loan, while PCCP provided the preferred equity investment.
The development team secured entitlements for the project and will begin construction in the second quarter of 2019. The five-story building will feature luxury amenities for residents, including an elaborately landscaped courtyard and roof deck, as well as a state-of-the-art fitness center and clubhouse. Select units will also enjoy private terraces with unobstructed views of the surrounding mountains.
NKF Chris Moritz and Ramsey Daya represented the borrower in the financing efforts.
“The project’s incredible infill location within the Silicon Valley, a short walk from the Sunnyvale Caltrain station, as well as the combined strength and experience of Lane and Bay West, resulted in a strongly contested financing process,” Moritz said.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development




