newsfilter
← Latest News
Business Wire·

Cushman & Wakefield Arranges $74.1 Million Financing for Bank of Italy Office-to-Residential Conversion in Downtown San Jose

  • Cushman & Wakefield arranged $74.1 million in financing for the Silicon Valley Initiative Partnership to convert the historic Bank of Italy building in downtown San Jose.
  • The financing was provided by Deutsche Bank for the adaptive reuse of the 13-story tower originally constructed in 1926.
  • The project will transform the property into 126,000 square feet of mixed-use space containing 109 market-rate residential units.
  • Cushman & Wakefield's Equity, Debt & Structured Finance team, including Dave Karson, Chris Moyer, Alex Lapidus, & Chris Meloni, facilitated the transaction.
  • Upon completion, the development will offer studio, one-bedroom, & two-bedroom units with amenities such as a fitness center, lounge, & outdoor terrace.
  • The renovation will preserve the building's façade & architectural details while installing modern interior finishes & systems.
  • The project is located in downtown San Jose, leveraging the region's innovation economy & demand for rental housing.
  • Cushman & Wakefield reported $10.3 billion in revenue for 2025 across its core service lines.