JLL Capital Markets completes $345 million refinancing for the 630-unit Miro Apartments in downtown San Jose, CA

 

Lillian Roos

SAN FRANCISCO, CA – JLL Capital Markets has arranged the $345 million refinancing for Miro, a Class A, two-tower, 630-unit, high-rise multi-housing community located in downtown San Jose, California.

 JLL represented the borrower, Bayview Development Group, to secure financing through Pacific Life.

 Charles Halladay

The bold and modern designed two-tower 28-story Miro features studio-, one- and two-bedroom units averaging 933 square feet with floor-to-ceiling windows, contemporary Italian cabinetry and gracious balconies.

 Differentiating community amenities include nearly an acre of outdoor space, a pool and fitness deck, two rooftop sky lounges and a private art gallery. 

 Brandon Roth

The ground floor of the tallest building in San Jose features a Starbucks and future full-service Italian restaurant and bar by Vine Hospitality.

 According to Bayview Development Group, “This exceptional JLL team executed on both a challenging construction loan due to the pioneering nature of this project and this more recent permanent financing, in an unusually volatile market. 

 Spencer Bergthold

"We received a great pairing with Pacific Life, and we’re excited to embark on this new relationship.”

 The JLL Capital Markets Debt Advisory team representing the borrower was led by Charles Halladay, Brandon Roth, Lillian Roos, Spencer Bergthold and Elijah Lax.

 Elijah Lax

 “There was an incredible amount of enthusiasm from lenders for this property, and Pacific Life was willing to provide long-term, fixed-rate financing while Miro is still in lease-up,” said Roth.

 “In turbulent times, there’s always a flight to quality, and Miro is the highest quality apartment community ever built in San Jose.”

 A Class A, two-tower, 630-unit, high-rise
multi-housing community located
 in downtown San Jose, CA

 Contact: 

Jenna Sharp,

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com