RAMROCK Snags Financing for Preston Center Mixed-Use Project
RAMROCK Real Estate, in partnership with Lincoln Property Company and Willow Bridge Property Company, secured financing for the 8300 Douglas project at Preston Center, a mixed-use development that will include an elevated office, residential and retail environments.
The development includes a 12-story Class AA office tower spanning approximately 300,000 square feet, a 17-story luxury residential tower with 147 units, a 35,000-square-foot rooftop park, and approximately 24,000 square feet of curated ground-floor retail and restaurant space, all connected by richly landscaped walkways.
The Venture is designed by HKS Architects.
A recently executed lease with Fifth Third Bank for their regional headquarters has brought the office tower to more than 80% pre-leased.
JLL Capital Markets arranged both the joint venture equity and construction financing from a single capital source on behalf of RAMROCK. It was led by Mark Gibson, Jim Curtin, John W. Rose, Clint Coe, Ryan Pollack and Campbell Swango.
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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