MMCC, a capital corporation specializing in real estate financing, has successfully secured $107 million for the construction of a new multifamily and retail development in Ontario. The project will consist of 384 residential units and 26,000 square feet of retail space at 4117 E Concours St., conveniently located near the Toyota Arena.
Stefen Chraghchian, senior director at MMCC’s Encino office, led the effort to secure financing from Affinius Capital and Bank OZK on behalf of Adept Urban Development. Despite challenges in the lending market, Chraghchian was able to negotiate competitive terms for his client.
The development project known as Adept Ontario is an important investment in Southern California’s growing population and job market. As part of a larger master-planned community, it will offer unique unit options and amenities that are not typically available in this area. This groundbreaking project is set to bring significant value to both residents and businesses alike.
