Loan Originations

Righetti Ranch

San Luis Obispo, CA

We originated a $32.7mm 1^st 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 1^st quarter of 2017.

Ski Resort Condos

Steamboat Springs, CO

We originated a $15.9 million 1^st 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 Marina

St. Maarten, null

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

Ski Area Hotel

Telluride, CO

We originated a $10 million 1^st mortgage acquisition loan secured by a 177 room ski-in/ski-out hotel with a 42,000 square foot spa and fitness center located in Telluride, Colorado.

Glendale Land

Glendale, CA

We originated a $25 million 1^st mortgage loan secured by 2.7 acres of urban infill land located in Glendale, CA. The loan was made to an experienced sponsorship group that intends to develop the parcel into 500+ multi-family units. The zoning and entitlements were in place at closing and the loan provided funds for acquisition, pre-development and an interest reserve.