Capital One announced that it has provided a $178.3 million Fannie Mae loan to refinance Anton Menlo, a 394-unit multifamily property located in Menlo Park, California. The loan was closed through Fannie Mae’s Near-Stabilization loan program by Capital One Multifamily Finance Senior Vice Presidents Evan Williams, Kristen Croxton, and Greg Reed.

The 10-year loan carries a fixed rate and is interest only for the full term. Anton DevCo (www.antondev.com) and St. Anton Capital (www.antoncap.com) and are the co-sponsors of the project.

“Menlo Park is a hub for top employers in the area and yet this property will also provide some needed relief in terms of affordability,” said Williams, whose focus at Capital One Multifamily Finance is affordable housing. “In the end Fannie’s Near-Stabilization program was an excellent fit for this transaction, so we were happy to identify a solution that helped our clients meet their goals.”

Anton Menlo’s 394 units are spread across four stories and situated on a 9.69-acre site. On-site amenities include a resort-style pool with expansive lounge deck, a rooftop sky lounge with BBQ and fire pit, and fully-equipped yoga and fitness studios. The development features 37 affordable units—22 restricted to 50% AMI and 15 restricted to 80% AMI.
 
Capital One Bank’s Commercial Real Estate Group offers a comprehensive array of financing solutions for property owners and developers nationwide, including balance sheet and agency lending. Additional information can be found at capital.one/multifamily.