Los Angeles-based GreenLake Asset Management LLC has funded a $33.65 million refinance and construction loan for The Ridge in Bend, Oregon. The mixed-use development will feature condominiums, retail, and both Hyatt and Marriott branded hotels.

GreenLake’s loan enabled the sponsor to refinance an existing land mortgage and to fund Phase I of construction, which comprises 33 condominium units, with ground-floor retail. Once complete, the condominiums will feature luxury amenities in a stunning location overlooking the Deschutes River.

“The Sponsor has a proven track record in ground-up development. He recently completed construction of hotels in Bend and Redmond and has a strong network and extensive knowledge of the local market,” said Paul Diamond, Chief Operating Officer at GreenLake. “Given the strength of the team and the irreplaceable location, we are very enthusiastic about this project.”

GreenLake and its affiliates provide short-term commercial bridge loans nationwide, including hospitality, industrial, multi-family, self-storage, mixed-use, office, and retail.