Lender Group Provides $74.7M Loan for Riverside Townhome Community
Canyon Partners Real Estate has jointly provided a $74.7 million senior construction loan with J.P. Morgan to BCT Development, a joint venture between Bain Capital Real Estate and Cherry Tree Development, for the ground-up development of a Class-A rental townhome community located in Riverside, California.
The Property will feature 180 rental townhomes across three-story walk-up buildings, offering a mix of two-, three-, and four-bedroom units. The Property will also include common area amenities such as a pool, fitness center, and clubhouse.
Since inception, in California, Canyon has invested over $1.2 billion of debt capital across 45 transactions, capitalizing $2.7 billion of total projects across all asset types. The firm has maintained a presence in California for more than three decades and continues to invest in real estate projects across primary and secondary markets in the United States.
Other News
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
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CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
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Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
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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