SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 20, 2012--
U.S. Bank and St. Anton Partners have closed on a $52 million loan to
finance construction of a new mixed-income multifamily community at the
corner of Raleigh Road and Charlotte Drive in San Jose, Calif. It is one
of the first apartment developments in the South San Jose area since
La Moraga Apartments, a 275-unit community, includes spacious one-, two-
and three-bedroom units. The project is currently under construction and
scheduled to be completed by mid-2014. Amenities at La Moraga include a
resort style pool and spa, fitness center with yoga room, icafe, media
and billiards room, outdoor grill area, neighborhood park frontage with
active and passive recreation areas.
“U.S. Bank is committed to community lending and affordable housing
development projects across the country,” said John Chan, senior vice
president for U.S. Bank Community Lending. “We are proud to partner with
St. Anton Partners, a respected California developer. The La Moraga
development will provide versatile housing options to residents in the
San Jose community.”
St. Anton Partners has built, owns and manages more than 6,000
multifamily units in California. Recent developments include Highlands
Point Apartments in San Ramon and The Ridge Apartments in Elk Grove. In
addition to La Moraga, St. Anton Partners has begun construction on
Alexander Crossing Apartments in Napa, Calif. and Granite City
Apartments in Folsom, Calif.
“St. Anton Partners is committed to providing multifamily housing in the
Silicon Valley,” said Steve Eggert, co-owner of St. Anton Partners.
About St. Anton Partners
Since 1995, St. Anton Partners has
organically grown into one of the leading privately held multi-family
development and investment companies in California. St. Anton employs
over 200 individuals, and has an institutional quality portfolio of
Class A multifamily residential communities throughout California. As an
integrated owner, developer, investor, general contractor and property
management company, St. Anton has earned a reputation as one of the most
efficient multifamily developers in the state.
About U.S. Bank Community Lending Division
provides hundreds of millions of dollars of financing every year for the
development of housing in communities all across the United States. U.S.
Bank customers are both for-profit and non-profit developers who are
bringing to life a full range of multi-family living for both
individuals and families. Together with these partners, U.S. Bank is
helping to address the shortage of housing that exists in nearly every
state where we do business.
About U.S. Bank
U.S. Bank has 673 offices and 7,100
employees in California. U.S. Bancorp (NYSE: USB), with $352 billion in
assets as of Sept. 30, 2012, is the parent company of U.S. Bank, the 5th
largest commercial bank in the United States. The company operates 3,086
banking offices in 25 states and 5,080 ATMs and provides a comprehensive
line of banking, brokerage, insurance, investment, mortgage, trust and
payment services products to consumers, businesses and institutions.
U.S. Bancorp and its employees are dedicated to improving the
communities they serve, for which the company earned the 2011 Spirit of
America Award, the highest honor bestowed on a company by United Way.
Visit U.S. Bancorp on the web at www.usbank.com.
Source: U.S. Bancorp
Teri Charest, U.S. Bank Public Relations
(612) 303-0732, firstname.lastname@example.org