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AMCAL Equities has secured a $150 million floating rate senior bridge loan from ACORE Capital for a student housing tower in downtown San Jose, Calif. The Grad, a 260-unit, 1,002-bed Class A property, serves students at San Jose State University.

Located at 88 E. San Carlos St., The Grad is a block away from both SJSU and downtown San Jose. The asset has fully furnished units with studio and one- to four-bedroom floorplans. Penthouse units feature 11-foot ceilings and share an outdoor terrace with views of the campus, city and mountains.