GRS | Corteq Provides Services on Two Multifamily Properties Valued at $220M
GRS | Corteq provided assessment services for two multifamily properties totaling 2,153 units combined: The Woods in San Jose, CA, and Arcadia Run in Manassas, VA. GRS | Corteq client, Berkadia, originated the loans through its Freddie Mac program.
Located in Manassas VA—convenient to DC and surrounded by shopping, activities and history—the Arcadia Run property was built in two phases. The welcoming units feature oversized kitchens with granite counters, designer fixtures and finishes. The 332-unit community includes a pool, fitness center, ball courts and a playground. Built in two phases, GRS | Corteq provided assessment resulting in funding via an agency lender.
GRS | Corteq provided property condition assessments, environmental site assessments/sampling and additional services.
The second property, known as The Woods in San Jose, CA, was built in seven phases over a 35-year period. The site includes nearly 2000 units spread throughout 100 buildings on 70+ acres. The Woods offers six villages and a total of 51 luxurious floor plans within a park-like setting. Each village at The Woods its own pool and most have club-style facilities as well. For this project, GRS | Corteq provided property condition assessments, seismic, environmental site assessments/sampling and additional services.
GRS | Corteq director, Jeff Coyne, spearheaded the services package.