Regency Capital Partners

The Village at Idlewild Park


The Village at Idlewild Park

Summary

Regency Capital Partners (“RCP”) arranged a $23.4 million bridge loan for the Village at Idlewild Park condominiums, a 216 unit property located alongside the Truckee River in Reno, Nevada. With only 20% of the units sold, this Pacific Northwest based developer required a recapitalization of their maturing construction loan in order to facilitate continued sales and marketing of the project. RCP was able to secure an 18 month bridge facility that eliminated the borrower’s recourse obligation and provided additional funds to the borrower for ongoing carry, marketing and sales costs.


Transaction Details

LOAN AMOUNT $23,400,000
FINANCING TYPE Bridge and Mezzanine
LENDER TYPE Credit Company
PROPERTY TYPE Multifamily
PROPERTY ADDRESS
Map
1450 Idlewild Dr.
Reno, NV
PROPERTY DESCRIPTION A luxury residential community across from Idlewild Park and the Truckee River. Condominium homes are both for lease and for sale.