JLL Capital Markets secured a $170-million first mortgage for Bay Meadows Apartment Collection, a portfolio of four luxury multifamily properties totaling 390 units in San Mateo. Senior managing directors Bruce Ganong and Chris Gandy, director Elijah Lax and analyst Tomie Vega worked on behalf of the borrowers, Stockbridge and Wilson Meany, in arranging the five-year, fixed-rate loan through New York Life Real Estate Investors.

The Bay Meadows Apartment Collection is located within the 83-acre Bay Meadows master-planned community and adjacent to the Hillsdale Caltrain Station. It includes the 108-unit Field House, built in 2015; the 70-unit Quimby, built in 2017; the 158-unit Russell, built in 2017; and the 54-unit Hawthorne, built in 2024.

“The successful refinancing of Bay Meadows Apartment Collection highlights the enduring strength of well-located, institutional-quality multifamily assets in the San Francisco Peninsula market,” said Ganong. “This portfolio’s prime location, coupled with its mix of unit types and amenities, positions it as a premier residential offering in the heart of Silicon Valley.”