Waterman Crossing Multifamily Receives $12M Construction Financing

A CBRE Capital Markets Debt & Structured Finance team has arranged $11.7 million in construction financing for Waterman Crossing, a planned 84-unit apartment building in San Bernardino, CA. The three-story apartment complex will contain two residential buildings plus a one-story freestanding clubhouse. Construction is planned for completion in July 2021.

Set to rise on 2.81 acres at the northeast corner of Wier Road and South Waterman Avenue, the project is approximately two miles from Loma Linda University, Loma Linda Medical Center, and Loma Linda Academy Children’s Center, with ready access to the 215 and 10 freeways.

A CBRE team of Garrett Danner, Marina Massari and Sharon Kline from CBRE’s Newport Beach office secured the two-year floating rate construction loan for a local real estate owner-developer.

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