PCCP Provides $14.7M in Equity for 75-Unit Apartment Development in Bay Area
SUNNYVALE, CALIF. — PCCP has invested $14.7 million of preferred equity, in a joint venture with Bay West Development and Lane Properties, for the construction of 311 Mathilda, a multifamily development in downtown Sunnyvale.
Located at 311 S. Mathilda Ave., the five-story property will feature 75 Class A apartment units in a mix of studio, one- and two-bedroom layouts and 4,860 square feet of ground-floor retail space that a Denny’s restaurant is expected to occupy. On-site amenities will include an outdoor courtyard with barbecues, dining terrace, fire pit and lounge seating; a fitness center with an additional exterior courtyard for group activities or classes; a two-story tenant clubhouse; a rooftop deck and lounge; and 54 bike parking spaces.
Completion is slated for early 2021.