Market Overview

HFF Announces $121.7M Financing for Multi-Housing Development in Milpitas, California

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HFF announces the closing of a $121.7 million participating mortgage for
the development of Anton Milpitas 730, a 266-unit, Class A multi-housing
community with 1,800 square feet of retail in Milpitas, California.

The HFF team worked on behalf of the developer, Anton DevCo, to arrange
the participating loan through an institutional partner. This is the
second phase of Anton's two-phase development. The HFF team also
arranged a participating mortgage for Phase I, which is already under
construction, in a transaction that closed in May 2017.

Anton Milpitas 730 is due for completion in 2020 and has been designed
to LEED Silver specifications. The five-story, wrap-style building will
offer a unit mix ranging from studios to two-bedroom units averaging 762
square feet. Planned project amenities include co-working space; dining
and community courtyards; outdoor social space; a resident lounge;
rooftop fitness center and pool overlooking the city; pet spa; bike
repair station; lounge and a 372-space, six-story parking garage. Units
will feature high-speed internet, various smart technology features and
upgraded finishes, including quartz countertops and gas ranges. The
transit-oriented project is located on 3.34 acres at 730 E. Capitol
Avenue directly across from the nearly completed Milpitas BART station
with access to the BART station and VTA Montague light-rail platform
through a common access point immediately adjacent to the project. BART
will provide residents with a less-than-one-hour commute to San
Francisco's Financial District, and the VTA light rail will provide
access throughout Greater San Jose.

The HFF equity placement team included senior managing director Sean
Deasy, senior director Mark Erland and director Matthew Benson.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the
California Bureau of Real Estate, License Number 01385740.

About Anton DevCo

Anton DevCo is a leading California multifamily developer. As a fully
integrated platform, Anton develops, constructs, owns and manages market
rate and affordable multifamily rental apartments throughout the State
of California. Anton has developed over 10,000 units in 50 communities
over 22 years, with aggregate asset value of over $2 billion, and is
underway on 2,000 units in various stages of development. Learn more at www.antondev.com.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE:HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.

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