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282 Pony Lane

Updated May 12, 2025

$170 Million Loan Secured By JLL For Bay Meadows Apartment Collection In San Mateo
FINANCEDMultiFamily

$170 Million Loan Secured By JLL For Bay Meadows Apartment Collection In San Mateo

282 Pony Lane, 3068 Kyne St W, 3098 West Kyne Street & 3069 East Kyne Street

$170,000,000

Units

390

Asset Type

MultiFamily

Closing

Apr 11, 2025

About this deal

AI

The Bay Meadows Apartment Collection, consisting of 390 units, is located at 282 Pony Lane, 3068 Kyne Street, 3098 Kyne Street West, and 3069 East Kyne Street in San Mateo. The collection includes four luxury multifamily properties that were built between 2015 and 2024 and represents a significant asset in the San Mateo market.

Summary of transaction details:

JLL Capital Markets was instrumental in securing the refinancing, which was arranged on behalf of Stockbridge and Wilson Meany, underscoring the collaboration among key players in the multifamily investment space.

On the Map

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$170,000,000

MultiFamily

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Players

Bruce Ganong

JLL

Broker

$1.2B

vol

6 deals

Broker
Terry Fancher

Terry Fancher

Stockbridge

Landlord

$2.1B

vol

24 deals

Landlord
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San Mateo MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $435.9K per unit across 390 units on a published $170M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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