Home Real Estate Safehold Closes on Ground Lease for Santa Clara LIHTC 
Real Estate

Safehold Closes on Ground Lease for Santa Clara LIHTC 

New York City-based ground lease REIT Safehold, Inc. has closed on a ground lease to facilitate the ground-up development of 80 Saratoga, a 200-unit Low Income Housing Tax Credit (LIHTC) community in Santa Clara. Terms of the transaction weren’t disclosed. 

The project will be developed by The Pacific Companies, an Idaho-based firm and prolific developer of affordable housing throughout the western U.S. 

“We are pleased to establish a relationship with a top-tier sponsor in The Pacific Companies,” said Steve Wylder, EVP with Safehold. “Safehold’s platform has continued to scale across the country and we are excited to be a part of a high-quality development that will provide much-needed affordable housing.” 

Rendering courtesy of Architects Orange.

Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...