Latigo Group Secures $54.7M Loan For Hillcrest Apartments Development In Thousand Oaks

2150 West Hillcrest Drive is a development site located in Thousand Oaks, targeting a multifamily project. The asset involves a total loan amount of $54,700,000 secured for the construction of Hillcrest Apartments, which will consist of 333 residential units along with ground-floor retail space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $54,700,000
• Lender: Mario Morales - Affinius Capital
• Senior Debt Provider: Bank OZK
• Landlord: Mark Maron & Scott Whittaker - The Latigo Group
• Broker: Bercut Smith - JLL
• Project Completion Target: Q1 2028

Mario Morales from Affinius Capital facilitated the preferred equity for the project, while Mark Maron and Scott Whittaker of The Latigo Group acted as the landlords. The financing arrangement was coordinated by broker Bercut Smith representing JLL, contributing financial expertise to the development of Hillcrest Apartments.