California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
MMCC Arranges $107M Construction Loan for Master-Planned Ontario Project
Marcus & Millichap Capital Corporation (MMCC) arranged $107 million in financing for the construction of a 384-unit multifamily asset with 26,000 square feet of retail space located at 4117 E Concours St. in Ontario. The project, adjacent to the Toyota Arena, will include several digital media signs.
Stefen Chraghchian, senior director in MMCC’s Encino office, secured the financing with Affinius Capital and Bank OZK on behalf of the developer, Adept Urban Development.
“We navigated through a challenging lending environment to provide them with highly competitive terms,” said Chraghchian. “Adept Ontario, the development project, represents a profound commitment to a region in Southern California that is experiencing continued population and job growth. As the first phase of a master-planned development, Adept Ontario will bring a distinctive range of unit types and amenities that are generally unavailable in the Inland Empire market.”
- ◦Development
- ◦Financing
