IPA Capital Markets, a division of Marcus & Millichap, announced the $60.9 million refinancing of a 28.9-acre oceanfront redevelopment project in Huntington Beach, California. The project plan was approved by the Huntington Beach City Council on September 17, 2024.
The redevelopment plan includes over 200 for-sale single-family detached and attached homes, a 50-unit affordable housing community, and a 215-room boutique hotel with 19,000 square feet of retail space. The project also incorporates 2.8 acres of coastal conservation and 4.4 acres of public parks.
This deal presented significant challenges due to the complexity of the redevelopment plans and local zoning regulations. The successful arrangement of an 18-month, non-recourse loan highlights IPA Capital Markets' expertise in structuring financing for intricate, large-scale developments.
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