Marcus & Millichap Capital Corporation (MMCC) arranged $107 million in financing for the construction of a mixed-use property in Ontario, California. The project includes a 384-unit multifamily asset and 26,000 square feet of retail space.
The development, located adjacent to the Toyota Arena, will also feature several digital media signs. MMCC secured the financing with Affinius Capital and Bank OZK on behalf of Adept Urban Development.
This financing was achieved despite a challenging lending environment, providing competitive terms for the client. The Adept Ontario project represents a significant commitment to a Southern California region experiencing continued population and job growth, bringing distinctive unit types and amenities to the Inland Empire market.
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