Square Mile Capital Management has originated a $131.2 million investment to facilitate the development of Artisan Crossing, a 250-unit multifamily project located in Belmont, Calif. Square Mile Capital partnered with Bank OZK to place a $76.0 million first mortgage loan and retained a $55.2 million preferred equity investment.
“We continue to have confidence in the future of transit-oriented projects in Silicon Valley and expect Belmont to be one of the next nodes to develop around CalTrain,” said Eric Cohen, Square Mile Capital principal.
The investment was made to a joint venture led by Windy Hill Property Ventures, which will now begin construction.
The project is strategically located within a short walk to the Belmont CalTrain station and represents one of the first local projects to move forward following the passing of the Belmont Village Specific Plan. The project’s transit-oriented location provides commuters direct connectivity into downtown San
