Urban Catalyst Secures $10.5M Bridge Loan From Gantry For San Jose Development Site

The development site located at 147 East Santa Clara Street, 49-95 North 4th Street & 128 East St. John Street in San Jose has secured a $10.5 million bridge loan from Gantry. The loan will fund land acquisition and pre-construction costs for Urban Catalyst's Icon and Echo towers, contributing to the addition of hundreds of residences in the area. This high-rise development is part of ongoing efforts to enhance density and vibrancy in the downtown district, with construction slated to commence within the next 12-24 months.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $10,500,000
• Address: 147 East Santa Clara Street, 49-95 North 4th Street & 128 East St. John Street
• Market: San Jose
• Landlord: Erik Hayden - Urban Catalyst
• Broker: Jeff Wilcox - Gantry

The key individuals and entities involved in this transaction include Erik Hayden, who represents Urban Catalyst as the landlord, and Jeff Wilcox from Gantry, serving as the broker. The loan from Gantry will play a pivotal role in advancing the development of the Icon and Echo towers, aligning with the objective of enhancing the downtown district's liveliness through the addition of new residential units.