Crescent Heights’ Skyline OC Lands $210M Financing
Newmark has arranged a $210-million financing secured by the remaining condominium inventory at Skyline OC South Coast Residences, a 25-story luxury residential development at 9 MacArthur Pl. in Santa Ana. Co-head of Global Debt & Structured Finance Jordan Roeschlaub, vice chairman Nick Scribani, senior managing director Ricky Braha, director Holden Witkoff and associate Niv Shahmoon arranged the financing on behalf of Crescent Heights. Investment vehicles advised by Centerbridge Partners, L.P. participated in the financing.
“The financing reflects strong lender conviction in both the quality of the asset and Crescent Heights’ proven track record of delivering landmark residential developments across the country,” said Braha.
Skyline OC is Orange County’s tallest residence, comprising two luxury condominium towers with more than 349 residences. The property features floor-to-ceiling glass providing panoramic views spanning the Pacific Ocean, Santa Ana Mountains and the Orange County skyline, according to Newmark.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout