January 17, 2019
An affiliate of Stockbridge Capital Group and Wilson Meany secured $48.64 million in financing for the development of The Morgan at Bay Meadows, an 82-unit, Class A multifamily project in San Mateo, CA. The project is expected to deliver in summer 2020.
The mid-Peninsula site is situated southwest of the U.S. 101 and Highway 92 interchange. The transit-oriented property is just north of the Hillsdale Caltrain station, within the pedestrian-friendly Bay Meadows master-planned community.
A mix of two and three-bedroom units are located above a single-story, below-grade secured parking garage. Amenities will include a central gathering space with an entertaining kitchen, library and game room; a lushly-landscaped courtyard; fitness and meditation studio; storage facilities; bike storage; and park views.
HFF’s Bruce Ganong, Chris Gandy and Bercut Smith arranged the floating-rate construction loan through Union Bank.
For comments, questions or concerns, please contact Dennis Kaiser