Savile Capital Partners issued a $52 million non-recourse loan to finance the construction of a mixed-use project located in San Gabriel, California.
SAN GABRIEL, CA, USA, March 24, 2022 /EINPresswire.com/ — – Savile Capital Partners (www.savcp.com), a commercial real estate capital advisory firm with offices in Los Angeles, Washington DC and London , created a $52 million non-recourse loan to finance the construction of a mixed-use project located in San Gabriel, California. Structured finance was provided by a combination of a senior lender and a mezzanine lender.
The project will include 133 market-priced apartments, over 50,000 square feet of ground floor commercial/retail space and underground parking. Residential amenities include a separate entrance/exit, dedicated residential lobby, community rooms, and fitness center. The project sits prominently on a main thoroughfare in the San Gabriel Valley and will benefit from nearly 600 feet of street frontage.
“The San Gabriel Valley is a vibrant and up-and-coming residential market offering high-quality housing at more affordable prices compared to Pasadena, San Marino and Arcadia to the north. The project is close to countless restaurants, shops and entertainment venues, as well as all major employment centers in the Greater Los Angeles area,” said Don Sherman, Principal of Savile Capital Partners. “The project was complicated by the fact that the underground parking lot and the commercial/retail component were financed separately from the residential component. After presenting the project to over 20 potential lenders, we were able to find a structured finance solution that provided the borrower with sufficient loan product to complete the project without recourse and at extremely competitive prices. »
The loan was originated by the Los Angeles office of Savile Capital Partners (www.savcp.com).
About Savile Capital Partners (www.savcp.com) Savile Capital Partners is a commercial real estate capital advisory firm focused on sourcing construction, bridge and mezzanine financing on behalf of investors and developers in national scale. Innovative structuring expertise and extensive capital relationships enable the creation of financial solutions for borrowers requiring project financing of $20-200 million. For more information, please contact Don Sherman, Director: DWS@savcp.com.
Savile Capital Partners