San Jose – June 14th, 2021 – CBRE has announced a $78.5 million bridge loan for the refinancing of Vespaio, a recently constructed mixed-use project that is currently in lease-up in San Jose, Calif.
Located at 130 Stockton Avenue, Vespaio is comprised of 162 apartments as well as retail and office space. The unit mix features a range of studio, one-, two- and three-bedroom floor plans ranging from 530 to 1,697 square feet. Community amenities include a game room, co-working space, tenant lounge, fitness center, four sky terraces, outdoor work areas and kitchen, saltwater pool, spa and 290 gated parking spaces.
The seven-story property also features 32,000 square-feet of retail and creative office space. Tech firm Surfaceink has already signed a lease agreement to occupy office space at Vespaio.
“Vespaio is an incredibly exciting project that will provide much-needed housing and quality office and retail space to Downtown San Jose,” said Mr. Behrens. “As major tech firms continue to bolster their presence in Silicon Valley, projects like Vespaio are critical to support the growth of the region.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.