Aug 17, 2022, 5:51pm PDT
The construction financing comes from several sources, according to Related. Otera Capital, an institutional commercial real estate debt player, made a $360 million loan for the market-rate residential building. PNC Bank provided $130 million in financing for the senior residential projects. Tasman East is just one piece of Related's ambitious plans for this section of Santa Clara. It sits adjacent to the, a 240-acre, mixed-use development across from Levi's Stadium that would bring 6 million square feet of office space along with 3.2 million square feet for residential, retail, restaurants and hotels. That project will be on a city-owned golf course that closed in 2019.
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