Affinius Capital LLC has granted a $107 million loan to fund the development of Adept Ontario, a mixed-use project located next to the Toyota Arena in Ontario. The loan was jointly provided by Bank OZK and given to Adept Urban Development. Marcus and Millichap Capital Corporation’s senior director of capital markets, Stefen Chraghchian, facilitated the financing.
Adept plans on constructing a five-story building that will house 384 residential units and 26,000 square feet of retail space. This development is part of a larger entertainment district that is conveniently within walking distance from the Toyota Arena.
Tom Burn, managing director at Affinius Capital stated: “Adept Ontario’s location makes it an ideal spot for creating an energetic entertainment district similar to L.A LIVE in Ontario.” He also expressed confidence in their partnership with Adept Urban Development for this first phase of their transformative mixed-use project through providing construction financing. They are excited about expanding this relationship further.
