### Max Benjamin Partners Secures $116M Refinancing for Build-to-Rent Development
Beverly Hills-based Max Benjamin Partners (MBP) has arranged a $116.2 million refinancing loan for investor and developer Adam Tancredi to support the development of 214 build-for-rent homes in Paso Robles. The project, located on 17 acres at 3138 Linne Rd., is part of the larger Vinedo master-planned community.
The loan, arranged by MBP’s Jason Moyal and Drew Rands, replaces existing acquisition debt, facilitates the buyout of previous partners, and fully funds the remaining elements of the project, including site infrastructure and home construction.
“The overall construction lending market has evolved with high interest rates and a reluctance by lenders to lend, creating a challenging environment,” said Moyal. “We need to look for alternative and creative sources of financing to help investors reach their goals.”
The build-for-rent community will feature two- and three-bedroom layouts, with amenities including a resort-style pool, fitness center, clubhouse, and various outdoor community spaces such as fireplaces, a bocce court, and a dog park.
