Beach-Side Mixed Use Project Refinanced
Capital Raise Amount: $16,000,000
Financing: Bridge Loan
Landmark Capital is pleased to announce a successful $16 million bridge loan transaction in Huntington Beach, CA. Proceeds were used to refinance a 29-acre site within close proximity to the Pacific Ocean and immediately inland from Pacific Coast Highway.
Challenge of the assignment:
The lack of entitlements, including a coastal permit requirement, and the former oil storage use, presented financing challenges. The quality of the sponsor, the sophistication of the lender, and the uniqueness of the asset all contributed to a successful funding.
Landmark Capital was able to identify a sophisticated lender who would fund on an entitled former oil terminal and execute under a tight timeframe.