$28MM NON-RECOURSE LAND BRIDGE IN UNION CITY

We are pleased to announce that we have recently closed a $28MM non-recourse land bridge loan.  

This transaction featured a complex ownership structure that required a non-recourse loan. 
While the property is ideal for the intended residential use, the final entitlements, including a general plan amendment could not be completed by the required close date.  Because of this, Beachrock needed to identify a lender that had the ability to understand the "as is" value of the property, the favorable political will to put the proposed entitlements in place, and the outstanding track record of the project's sponsorship.  Given the size of the loan, and the total number of expected lots, this also required a lender that could take the time to understand the overall supply and demand dynamics in the region. 

Comment from the Client:

“As a land developer, it is often difficult to source debt for our large scale projects.  Anthony has taken the time to understand this segment of the market, and understands what lenders need to see in order to get to a loan approval.  Because of the results he has achieved he has become one of a small, select group of external capital advisors that our organization has grown to trust.”

— JIM C., CFO

BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!