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201 Town Center East

Brett & Bradley Vernon Of The Vernon Group Secures $28.54 Million Loan For Development Site In Santa Maria
FINANCEDDevelopment Site

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:

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

Matt Stewart

JLL

Broker

$635.5M

vol

13 deals

Broker
JLL
JLLBrokerage
Genesis Capital
Genesis CapitalLender
The Vernon Group
The Vernon GroupLandlord

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