SAN MATEO, CALIF. — Stockbridge and Wilson Meany have received a $170 million first mortgage for Bay Meadows Apartment Collection, a portfolio of four properties totaling 390 units in San Mateo, roughly 20 miles south of San Francisco.
The portfolio offers a mix of studios, one-, two- and three-bedroom floor plans. The average unit size is 1,035-square feet. The portfolio also features a total 9,961-square feet of ground floor retail space. The four properties included in the portfolio are:
- Field House, a 108-unit community that was built in 2015,
- Quimby, a 70-unit asset built in 2017,
- Russell, a 158-unit property built in 2017,
- And Hawthorne, a 54-unit complex built in 2024.
The communities are located within the 83-acre Bay Meadows master-planned community, which also features 18 acres of parks and open spaces and more than one million square feet of office space.
Bruce Ganong, Chris Gandy, Elijah Lax and Tomie Vega of JLL Capital Markets arranged the five-year, fixed-rate loan through New York LifeReal Estate Investors.