JLL has raised capital totaling $335.6 million for the development of Gateway at Millbrae Station, a transit-oriented, mixed-use residential and office property adjacent to the Millbrae BART and Caltrain Stations in Millbrae, Calif.
JLL worked on behalf of the developer, Republic Urban Properties, to arrange joint venture equity from Principal Real Estate Investors and a floating-rate construction loan through U.S. Bank.
Gateway at Millbrae Station is fully entitled to include 320 apartment units and 157,000 square feet of class A office space in a six-story building with podium-style parking. The property also will include a combined 36,000 square feet of ground-floor retail and 645 parking spaces. The residential component will offer a mix of studio, one-, two- and three-bedroom homes. The project is due for completion in summer 2022.
