Greystar obtained a $201 million construction loan to develop the 636-unit The Reserve in San Jose, Calif.
The planned luxury multihousing community will rise at 897 S. Winchester Blvd. and is expected to be completed in 2020. It will offer loft-style units measuring 869 square feet on average and more than 8,000 square feet of street-level retail, among other features.
Holliday Fenoglio Fowler LP arranged the loan on behalf of Greystar, with Otéra Capital as the lender.