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Community-Minded Development Has Strong Lender Interest

OAKLAND, CA—With the multifamily project’s two sustainability recognitions, a GreenPoint rating and a LEED Silver certification, Fannie Mae’s Green Certification program and the Near-Stabilization loan program were leveraged to create a custom lending structure.

Mason at Hive Mason at Hive is a multifamily property that is part of the Uptown Hive mixed-use project.

OAKLAND, CA—Mason at Hive is a class-A market rate multifamily property, part of the larger Hive mixed-use development in Uptown Oakland. This creative development has transformed the historic Broadway Street façade and former car dealership into retail spaces featuring local purveyors and office space. Uptown has exploded with retail venues in the recent past, adding to the pressure on housing already in existence.  

Mason at Hive has been instrumental in meeting some of that demand for housing. Bellwether Enterprise Real Estate Capital LLC recently arranged a $39.72 million refinancing of a construction loan for the multifamily property through Fannie Mae. John Ghio, senior vice president in Bellwether’s San Francisco office, arranged the financing for Hive Development Group LLC, a partnership between Signature Development Group and Delaney Jordan Investments.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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