SAN JOSE, CA-Those who follow @GlobeStcom onTwitter and @GlobeStLIVEmay have seen a post teasing the announcement, but GlobeSt.com haslearned that US Bank and St. AntonPartners have closed on a $52-million loan to financeconstruction of a new mixed-income multifamily community at thecorner of Raleigh Road and Charlotte Drive in San Jose, CA. It isone of the first apartment developments in the South San Jose areasince 2004, according to a prepared statement.
“US Bank is committed to community lending and affordablehousing development projects across the country,” says JohnChan, senior vice president for US Bank communitylending.
La Moraga Apartments, a 275-unit community, includes spaciousone-, two- and three-bedroom units. The project is currently underconstruction and scheduled to be completed by mid-2014.
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