Verona Apartments – Provided $7,790,000 in fixed rate permanent financing for the Verona Apartments in Studio City, California. Financing for this 35-unit luxury multifamily project closed in October 2011, and allowed for five years of interest only payments as well as borrower cash out.
Reliant Corporate Center – Provided a $4,000,000 preferred equity facility secured by three class B office towers located in Houston, Texas. The offices total over 270,000 square feet and are encumbers by existing first trust positions. The preferred equity position, which was placed in March 2009, increased the total capitalization to 75% of the current property value and provided additional liquidity to the ownership group.
Taormina Apartments – Arranged for a $10,000,000 construction loan for the development of a 39 unit apartment building in Sherman Oaks, California. The construction loan, which closed in July 2008, provides for the construction of apartment units to condominium specification.
Vista Paradiso Condominiums – Provided the construction loan for the development of 24 residential condominiums in Studio City, California. A total of $11,400,000 was provided for the tear down of existing apartments and the construction of the new units. The construction loan closed in December 2007.
Tuscany Apartments – Provided $3,300,000 in fixed rate permanent financing for the Tuscany Apartments in Studio City, California. Financing for this 26-unit multifamily project closed in December 2007.
Moorpark Apartments – Provided $2,750,000 in fixed rate permanent financing on the Moorpark Apartments in Sherman Oaks, California. Financing for this 24-unit multifamily project closed in September 2007.
Crystal Tree Center – Arranged for a $19,000,000 senior loan to refinance and renovate an 117,678 square foot multi-tenant retail and office complex located in North Palm Beach, Florida. This new senior loan retired and existing senior and mezzanine loan also procured by David B. Norton Inc. The senior loan closed in March 2007.
Skyline Terrace Townhomes – Arranged and closed an $18,150,000 refinance for a 40-Unit condominium conversion in Monterey, California. Replaced existing mezzanine and senior debt of $15,000,000 with a single, high leverage construction loan. The new senior loan closed in February 2007.
Riverfront St. Johns Point – Supplied a $25,000,000 senior bridge loan for a 23 acre land development in Jacksonville, Florida. The project is a mixed use development which includes nearly 1,000 residential units and 250,000 square feet of retail and office. The bridge loan closed in December 2006.
Malibu Country Club – Arranged $40,000,000 in senior financing for the redevelopment of the existing country club and golf course facility. The plans include the development of a new golf course as well as residential components surrounding the golf course on the 648 acre site. The loan closed in April 2006.
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