Related California, has secured $690M to finance the construction of 700 multifamily units in two apartment towers that represent the first phase of the company's 240-acre, mixed-use Related Santa Clara development next to Levi's Stadium, home of the San Francisco 49ers NFL franchise in Santa Clara.
The first phase, known as Tasman East and located at 2300 Calle De Luna, has received a $360M loan from Otera Capital for the development of a 22-story, 509-unit luxury apartment building.
The project also received a $130M loan from PNC Bank for a, 20-story, 191-unit senior housing complex. The senior housing will be built by Coterie, a joint venture of Related, Atria and Welltower.
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