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MMCC Arranges Construction Loan for Rancho Cucamonga Mixed-Use
Marcus & Millichap Capital Corporation (MMCC) arranged $64 million in financing for the construction of a mixed-use multifamily, retail and commercial development project located at 8500 Haven Ave. in Rancho Cucamonga. Ron Balys, senior managing director in MMCC’s Orange County office, secured the financing with Parkview Financial on behalf of a private developer.
“Over the course of six months, we worked closely with our client to thoughtfully prepare this mid-construction financing for market,” said Balys. “The transaction came together seamlessly, thanks to prudent underwriting and an exceptionally well-organized borrower team.”
Added Paul Rahimian, CEO and Founder of Parkview Financial, “This is a highly strategic investment in a market with strong underlying fundamentals. With conservative underwriting, experienced sponsors, and a de-risked construction timeline, we’re confident this project is well-positioned to deliver long-term value.”
The full project will feature six residential buildings, a mixed-use building with 248 apartment units and ground-floor commercial space, and a retail building.
- ◦Financing
