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Huntington Beach Redevelopment Project Secures $61M Refi
IPA Capital Markets, a division of Marcus & Millichap, arranged the $60.9-million refinancing of a 28.9-acre oceanfront redevelopment project located in Huntington Beach. Gary Mozer, executive managing director with IPA Capital Markets, secured an 18-month, non-recourse loan on behalf of a California-based investment and development firm.
The project plan includes residential and hospitality development and was approved by the Huntington Beach City Council this past September. The residential development plan includes 200-plus for-sale single-family detached and attached homes, and a 50-unit affordable housing community. The hospitality development plan includes a 215-room boutique hotel with 19,000 square feet of retail space.
Mozer said, “This deal presented significant challenges due to the complexity of the redevelopment plans and local zoning regulations. We analyzed the plans and the zoning regulations and structured the financing accordingly.”
The project is currently in predevelopment, with construction slated to commence near the end of 2025.
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- ◦Development
- ◦Financing
