BURLINGAME, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has secured $123 million in debt financing for Anson, a multifamily property in Burlingame. Situated less than four miles from San Francisco International Airport, the property features 268 one-, two- and three-bedroom floor plans with in-unit laundry, stainless steel appliances and private patios or balconies. Community amenities include two courtyards with barbecue grills and hammocks, a fitness center, clubhouse, resort-style swimming pool, pet spa and a coworking lounge.
The loan features a interest rate of 5.09 percent, a DSCR of 1.10x and interest-only payments for the term. The financing structure also included $26 million in preferred equity from Tokyu Land US Corp. Brian Eisendrath, Cameron Chalfant, Anita Paryani-Rice and Jesse Zarouk of IPA Capital Markets in Los Angeles secured a five-year loan on behalf of a national multifamily owner, operator and investment firm