Loan Originations

Righetti Ranch

San Luis Obispo, CA

We originated a $32.7mm 1st mortgage loan for the acquisition and development of the first phase of Righetti Ranch, a 382 residential lot development on a 162-acre site in San Luis Obispo, California. Located on the Central Coast of California roughly midway between San Francisco and Los Angeles, the city of San Luis Obispo is one of California’s oldest communities, as well as the county seat. The land is fully entitled with most discretionary approvals for the development in place. The borrower has a deep-pocket capital partner and has extensive experience in large-scale developments of this nature in California.

500 Station

Aurora, IL

We originated a $60.0 million credit facility, consisting of a $25.0 million 1st mortgage loan and a $35.0 million mezzanine loan, to refinance and complete the construction of a 417-unit luxury multifamily development in Aurora, a suburb of Chicago, Illinois. Located in the highly desirable Naperville/Aurora multifamily submarket, the 5-building complex is strategically positioned among numerous retail amenities and enjoys one of the nation’s top school districts. The project features several floor plans with high end finishes and a market leading amenity package including a resort-style pool, outdoor grills, outdoor fireplaces with seating, a fitness center with state of the art equipment, a resident club facility, a business center and a putting green. The project is expected to be completed in the 1st quarter of 2017.

Ski Resort Condos

Steamboat Springs, CO

We originated a $15.9 million 1st mortgage acquisition bridge loan secured by the remaining 58 luxury ski-condos in a larger complex in Steamboat Springs, Colorado. The loan enabled the borrower to purchase a defaulted loan at a discount.

Caribbean Resort

Anguilla

We originated a $19.1 million 1st mortgage secured by an existing 5-star resort in Anguilla. Bixby was able to get comfortable with the local law governing the loan and moved quickly to underwrite and close the deal allowing the Borrower to continue a substantial renovation. The resort has been rebranded and is now operating with rave reviews.

Caribbean Marina

St. Maarten

Along with a partner, we originated a $19.0 million 1st mortgage loan to refinance two marinas located in St. Maarten. The sponsor is very experienced and owns numerous other marinas throughout North America.

Inland Empire Land

CA

We originated a $40.0 million 1st mortgage loan secured by four parcels of unimproved residential land totaling 1,120 acres approved for 2,940 single family homes located within the Inland Empire area of southern California. The loan was less than 50% LTV and the proceeds allowed the sponsor to continue making new acquisitions.

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