Marcus & Millichap Capital Corporation (MMCC) has arranged $64 million in financing for the construction of a new mixed-use development located at 8500 Haven Avenue in Rancho Cucamonga, California. The project, which includes multifamily, retail, and commercial components, is being developed by a private developer.
Ron Balys, Senior Managing Director in MMCC’s Orange County office, secured the financing through Parkview Financial.
“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.”
Paul Rahimian, CEO and Founder of Parkview Financial, added, “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 development will include six residential buildings, a mixed-use building offering 248 apartment units and ground-floor commercial space, as well as a standalone retail structure.
