Related California Secures $690M Construction Loan For 1650-unit Development Site In Santa Clara

The development site located at 2300 Calle de Luna in Santa Clara has been involved in a closed property transaction. The property, which is a development site, consists of 1650 units. The transaction took place on August 19, 2022.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $690,000,000
• Market: Santa Clara
• Lender: Otera Capital, PNC Bank & welltower''>Welltower Inc.
• Landlord: Related California (Related Companies) - Bill Witte
• Loan Type: Construction

The lender for this transaction included Otera Capital, PNC Bank, and Welltower Inc. The landlord, representing the property, is Related California (Related Companies) with Bill Witte as their representative. The loan amount for this transaction was $690,000,000, and the loan type was construction.