Newmark has arranged a $210 million financing package secured by the remaining condominium inventory at Skyline OC South Coast Residences, a luxury residential high-rise complex in Santa Ana. The collateral comprises unsold units in the development, which is located at 9 MacArthur Pl. and marketed as a premier residential address in the area.
The Newmark debt and structured finance team was led by Co-Head of Global Debt & Structured Finance Jordan Roeschlaub, together with Vice Chairman Nick Scribani, Senior Managing Director Ricky Braha, Director Holden Witkoff and Associate Niv Shahmoon. The team arranged the financing on behalf of Crescent Heights, which is associated with high-profile residential projects in multiple U.S. markets.
According to Newmark, investment vehicles advised by Centerbridge Partners, L.P. participated in the financing. The capital is structured to be secured specifically by the remaining condominium inventory at Skyline OC South Coast Residences, aligning investor exposure directly with the for-sale residential component that has yet to be absorbed.
In comments provided by Newmark, Braha noted that the financing underscores lender confidence in both the underlying asset and Crescent Heights’ history of executing large-scale residential developments. The transaction highlights ongoing capital availability for well-located, high-end residential product with an established sponsorship profile.
Skyline OC is described as Orange County’s tallest residential offering and consists of two luxury condominium towers totaling more than 349 residences. The 25-story development features floor-to-ceiling glass in its residential units, which is designed to showcase panoramic views across several natural and urban landmarks.
Residents and prospective buyers at Skyline OC have sightlines that extend to the Pacific Ocean, the Santa Ana Mountains and the broader Orange County skyline, according to Newmark. These view corridors, combined with the tower scale and height, are positioned as key differentiators for the property within the local condominium market.
The financing execution at Skyline OC South Coast Residences illustrates the role of institutional capital in backing inventory at high-rise, for-sale residential projects where sponsors have established track records. While specific loan terms were not disclosed, the transaction reflects the willingness of capital sources advised by Centerbridge Partners to participate in large, asset-specific structures secured by unsold condominium units in a prominent Orange County development.
