 |
Bryan Gortikov |
SAN JOSE, CA - Gortikov Capital has arranged a $150 million bridge loan secured by The Grad, a 260-unit, 1,002-bed Class A student housing tower serving San Jose State University, located in Downtown San Jose, California.
Bryan Gortikov, President of Gortikov
Capital, led the capital markets team in securing the floating-rate senior
bridge loan on behalf of AMCAL Equities and its Founder and CEO, Percy Vaz.
Developed in 2020 by
AMCAL Equities, a leading developer of student, market-rate, and affordable
housing for nearly 50 years, The Grad features a market-leading amenity
package, including a state-of-the-art 2,600-square-foot exercise center and a
resort-style swimming pool and sundeck. Penthouse units feature 11-foot
ceilings and share an outdoor terrace with breathtaking views of the campus,
city, and mountains.
 |
The Grad, a 260-unit, 1,002-bed Class A
student housing tower serving San Jose State University, located in Downtown San Jose, CA
|
As the oldest public university on the West Coast, San Jose State University boasts an enrollment of 36,000 students and growing, yet continues to be dramatically underserved by student housing. Beds are available for less than 25% of the 36,000 students, and nearby market-rate apartments are among the most expensive in the country.
The Grad offers
high-quality, affordable single- and double-occupancy rooms just 400 feet from
the SJSU campus, providing unmatched convenience with easy access to campus,
cafes, shops, and transit.
 |
Percy Vaz
|
Leveraging its expansive network of capital sources and decades of capital markets expertise, Gortikov Capital secured the new floating-rate senior bridge loan from ACORE Capital with favorable terms and limited structure, owing to the unparalleled quality of the asset and AMCAL’s sterling reputation and track record.
“It is a rare pleasure to
work with a partner of AMCAL’s caliber and on an asset as uniquely impressive
as The Grad. Despite an increasingly volatile economic climate and tightening
credit, I am thrilled we were able to outperform on our assignment for Percy
and the AMCAL team,” said Gortikov.
Founded in 2016 by Bryan
Gortikov, Gortikov Capital is a boutique commercial real estate mortgage
brokerage and investment firm based in Santa Monica, California. The firm has
originated over $3.5 billion in transactions, focusing on construction, bridge,
and permanent debt and equity brokerage. Through its joint venture and direct
investment platform, Gortikov Capital manages more than 1,500 multifamily units
across the Western United States.
CONTACT:
David Ebeling
Ebeling
Communications
949.861.8351
949.278.7851
(Cell)
Member of the
National Association of Real Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate Industry:
I do what
I love and love what I do.”
