Lender Group Provides $74.7M Loan for Riverside Townhome Community

Canyon Partners Real Estate has jointly provided a $74.7 million senior construction loan with J.P. Morgan to BCT Development, a joint venture between Bain Capital Real Estate and Cherry Tree Development, for the ground-up development of a Class-A rental townhome community located in Riverside, California.

The Property will feature 180 rental townhomes across three-story walk-up buildings, offering a mix of two-, three-, and four-bedroom units. The Property will also include common area amenities such as a pool, fitness center, and clubhouse.

Since inception, in California, Canyon has invested over $1.2 billion of debt capital across 45 transactions, capitalizing $2.7 billion of total projects across all asset types. The firm has maintained a presence in California for more than three decades and continues to invest in real estate projects across primary and secondary markets in the United States.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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