Walker & Dunlop Arranges Loan for Santa Ana Residential Conversion
Walker & Dunlop arranged a $41-million loan to facilitate the construction of 2700 Main, a soon-to-be Class-A multifamily property in Santa Ana. The W&D Capital Markets team led by Steven Paskover secured the floating rate, interest-only loan from an institutional bank on behalf of Core Development Group.
Located at 2700 N. Main St., the property is a currently vacant 116,156-square-foot 12-story office tower. The loan will help convert it into 158 multifamily units with 7,750 square feet of ground-floor commercial space.
“We’re thrilled to have helped arrange the financing for Core Development Group’s transformative redevelopment of 2700 Main,” said Paskover. “This financing allows for the conversion of an underutilized office asset into much-needed Class A housing in the heart of Santa Ana. With its prime location, sweeping views, and exceptional design, 2700 Main is set to become a premier residential community within one of Orange County’s most vibrant and evolving corridors.”
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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