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BELMONT, CALIF. — Värde Partners has provided Windy Hill Property Ventures, a firm specializing in real estate development in the Greater Bay Area, with $105 million in construction takeout refinancing for its Artisan Crossing apartment property in the Bay Area city of Belmont.
The bridge financing supports the lease-up of the newly developed property. Chris Gandy and Tom Gilliland of JLL arranged the floating-rate loan, which has a three-year initial term with two one-year extension options.
The 250-unit community features a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.