$88.2 Million Loan Arranged by IPA Capital Markets
Sep 07, 2016

MOUNTAIN VIEW, Calif., Sept. 7, 2016 – Institutional Property Advisors Capital Markets (IPA Capital Markets), a leading provider of debt and equity placements and advisory solutions for major investors has arranged $88,268,000 in debt to refinance a 193-unit multifamily property in Mountain View, California.

“The borrower has worked with us numerous times over the last few years and is familiar with our experience in delivering unique debt solutions for our clients,” said Jake Roberts, IPA senior vice president capital markets. “This situation was special due to the desire for leverage and the non-stabilized nature of this asset.”    

Roberts and Anita Paryani Rice, IPA vice president capital markets, arranged the loan.

“The biggest hurdle was ensuring that lenders used a stabilized property value to maximize proceeds,” said Paryani Rice. “IPA provided the borrower with a number of lenders that were willing to see the full potential of the asset without it being fully stabilized.”

The 10-year loan has a favorable, fixed interest rate with five years of interest only. The amortization schedule is 30 years and the loan-to-value is 65 percent.

Built in late 2015, the 174,515-square-foot asset is located in Silicon Valley near Stanford University and Google headquarters.