Brett & Bradley Vernon Of The Vernon Group Secures $28.54 Million Loan For Development Site In Santa Maria
201 Town Center East
$28,540,000
Building Size
—
Asset Type
Development Site
Closing
Jul 31, 2025
AI
The asset involved in this transaction is a development site located at 201 Town Center East in the Santa Maria market. A construction loan amounting to $28,540,000 was secured for this project, facilitated by Genesis Capital. The property is associated with Brett and Bradley Vernon, who are represented by The Vernon Group.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $28,540,000
- Lender: Genesis Capital
- Landlord: Brett & Bradley Vernon - The Vernon Group
- Brokerage: JLL
- Brokers involved: Matt Stewart, Alex Olson, Ace Sudah, Jacob Michael, Kyle White
- Date of transaction: 07/31/2025
This transaction highlights the roles of several key brokers who facilitated the deal, specifically Matt Stewart, Alex Olson, Ace Sudah, Jacob Michael, and Kyle White, all of whom are part of JLL. Their collective expertise contributed to the successful arrangement of financing for the development site.
Players
Santa Maria Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93