News December 02, 2021
Madison Realty Capital Lends $183M on San Jose Resi Tower Near Google
Commercial Observer reported that Scape North America has secured a $182.5 million debt package from Madison Realty Capital to build a planned multifamily development in San Jose, Calif., near corporate campuses for Google, eBay and other tech giants. Scape’s SoFA project will feature a 336-unit residential tower and will be comprised of a mix of studios and one- and two-bedrooms along with roughly 6,000 square feet of ground-floor retail. The 23-story tower’s amenities will include a café, a tenant lounge, a fitness center, a roof deck, a pool, a yoga studio, and 111 parking spaces. The property is situated near corporate campuses of Oracle, Zoom, eBay, SAP, Adobe, and the new Google one in Downtown San Jose. It is also within close proximity to faculty, staff, graduates and undergraduates of San José State University.