Mesa West Capital has provided a joint venture between Interstate Equities Corporation and PGIM, the global investment management business of Prudential Financial, Inc., with a $201.5 million loan package for the acquisition of four multifamily properties totaling 574 units in Seattle and the San Francisco Bay Area markets of Mountain View, Redwood City and Sunnyvale, Calif.
According to CBRE research looking at markets for tech talent across the United States and Canada, the Bay Area and Seattle ranked at the top. From 2021 to 2024, the tech work force grew by 10 percent in the Bay Area and 5.1 percent in Seattle.
“All four properties are located in prime infill neighborhoods with strong multifamily market fundamentals. Both the San Francisco Bay Area and Seattle benefit from dynamic tech employment hubs that drive economic and job growth,” said Josh Westerberg, Mesa West capital head of Western Region, who led the origination team that included Vice President Hoo
