Sabal Financial Completes $75.5 Million Loan for Construction of 81 New Homes in Lake Forest, California
(firmenpresse) - NEWPORT BEACH, CA -- (Marketwired) -- 04/21/15 -- , a diversified financial services firm specializing in real estate, lending and banking, announced today that its Home Builder Finance business recently closed a loan to finance the construction of 81 new for-sale residences in Lake Forest, Calif. The $75.5 million loan was provided to , a Newport Beach, Calif.-based home builder and will finance land development and construction of the homes, which are the first phase of the builder's Portola Northwest Project.
"We are excited to add Baldwin & Sons to our portfolio of borrowers," said Darren Fancher, Head of Production for Sabal Financial Home Builder Finance. "This was a complicated transaction, but we were able to structure a non-recourse debt facility that met the borrower's needs and deadline."
The 28-acre site is located at the northwest corner of Glenn Ranch and Saddleback Ranch Roads, and is part of the Portola Center master-planned community, which will ultimately include a mix of commercial space and over 900 residential units. The 81 single-family detached homes will include seven one- and two-story floorplans offering three, four and five bedrooms. Site development has already begun, and construction is expected to be complete in early 2017.
Sabal Financial's Home Builder Finance business provides non-recourse acquisition, development and construction financing to experienced small- and mid-sized builders pursuing quality for-sale development opportunities nationwide. A non-regulated lender, Sabal Financial provides flexibility in the structuring of loans, as well as in developing solutions to specific project-related issues.
The firm also operates a Commercial Real Estate Term Lending business, providing $1MM to $10MM senior financing for stabilized properties nationwide including multifamily, office, retail, industrial and self-storage. Sabal Financial is known for its innovative use of technology, employing SNAP™, a proprietary online loan processing system, which has reduced the funding cycle to 35 days or less.
Sabal Financial Group, L.P. is an international diversified financial services firm specializing in real estate, banking and lending headquartered in Newport Beach, California. The firm's flagship Principal Investments business has established a strong foothold in the distressed debt arena, bringing nearly $8.2 billion in real estate assets under management since the firm's inception in 2009. The Sabal Financial platform also operates a number of complementary businesses including Real Estate Capital Solutions, Advisory Solutions, Third-Party Servicing and Sabal Europe. For more information, visit .
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Datum: 21.04.2015 - 18:57 Uhr
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News-ID 387457
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