Multifamily - Development
ACRES Capital, LLC (“ACRES”) is pleased to announce the funding of a loan which will be used to complete a 93-unit residential condominium community. The Property will be 5 stories tall with a total of 96,908 net saleable square feet consisting of 20 one-bedroom/one-bathroom units, 44 two-bedroom/two-bathroom units, and 29 three-bedroom/two-bathroom units. Amenities include a fitness center, club room, lounge, courtyard, decks, and bike storage facility. The project is especially attractive as it allows future residents to benefit from convenient access to both Silicon Valley and San Francisco.
Mark Fogel, President & CEO of ACRES commented “the Sponsor is one of the most active developers in the Silicon Valley area. He has succeeded in offering an attractive purchase option in a supply-constrained market. We are excited to partner with him on this exceptional project.”