Noah Hochman & Ash Baraghoush Of TruAmerica Multifamily Provide $27M Preferred Equity For 251-Unit Development

A preferred equity loan of $27,000,000 was issued for the ground-up development of a multifamily apartment community located at 11 El Camino Real in San Carlos, CA. The project, a six-story building, will consist of 251 units, including 213 market-rate and 38 affordable units. It is fully entitled and shovel-ready, with immediate construction expected to commence.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,000,000
• Lender: Noah Hochman & Ash Baraghoush - TruAmerica Multifamily
• Landlord: SHAC Apartment Communities
• Units: 251
• Market: San Carlos, CA
• Loan Type: Preferred Equity

Noah Hochman and Ash Baraghoush, representing TruAmerica Multifamily, facilitated the preferred equity funding for this project developed by SHAC Apartment Communities. This transaction marks TruAmerica's entry into preferred equity financing.