Emery Bay Condominiums
Summary
Regency Capital Partners (“RCP”) arranged $109,000,000 of acquisition debt and $26,000,000 million of joint venture equity for this 426 unit apartment complex in Emeryville, California. Having posted a non-refundable deposit upon execution of the acquisition contract, this Southern California condo-converter required an equity and debt commitment within 3 weeks. RCP secured first mortgage financing that was able to commit and close within days along with an equity partner who provided over 90% of the equity required at market terms.
Transaction Details
| LOAN AMOUNT | $135,000,000 |
| FINANCING TYPE | Equity and Bridge |
| LENDER TYPE | Domestic Bank |
| PROPERTY TYPE | Multifamily |
PROPERTY ADDRESS |
6400 Christie Ave Emeryville, CA |
| PROPERTY DESCRIPTION | Upscale apartments that were to be converted into condominiums for working professionals and families in a central Emeryville location just minutes from Oakland, San Francisco and Berkley. |