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George Gleason Of Bank OZK Provides $117M Loan To The Latigo Group For Hillcrest Apartments Development

Property Image
FINANCED
$117,000,000
Matt Benson
Bercut Smith
Scott Whittaker
+ 2

California

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Development Site
Financed 06/24/2025
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Property Image
FINANCED

George Gleason Of Bank OZK Provides $117M Loan To The Latigo Group For Hillcrest Apartments Development

2150 West Hillcrest Drive

See Similar Deals
Development Site
Financed 06/24/2025
Matt Benson
Bercut Smith
Scott Whittaker
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan

The asset involved in this transaction is a development site located at 2150 West Hillcrest Drive in Thousand Oaks. The site is designated for the development of Hillcrest Apartments, which will comprise 333 units. The loan amount secured for this project is $117,000,000 provided as a senior loan by Bank OZK.

Summary of transaction details:

This transaction is part of a larger financial arrangement totaling $182,000,000 capital stack organized by JLL, showcasing the collaborative efforts of the involved parties in securing funding for the development project.

Players

Bercut Smith
JLL
Bercut Smith
9 deals$1.3B volume
BROKER
Matt Benson
JLL
Matt Benson
3 deals$314.8M volume
BROKER
George Gleason
Bank OZK
George Gleason
5 deals$778M volume
LENDER
Scott Whittaker
The Latigo Group
Scott Whittaker
9 deals$627.4M volume
LANDLORD
MM
The Latigo Group
Mark Maron
5 deals$391.2M volume
LANDLORD

Details

FINANCED
IMAGE: George Gleason, Mark Maron, Scott Whittaker, Bercut Smith & Matt Benson DATE: 06/24/2025 ADDRESS: 2150 West Hillcrest Drive MARKET: Thousand Oaks ASSET TYPE: Development Site LENDER: George Gleason - Bank OZK (@BankOZK) LANDLORD: Mark Maron & Scott Whittaker - The Latigo Group BROKERS: Bercut Smith & Matt Benson - JLL (@JLL) LOAN AMOUNT: $117,000,000 LOAN TYPE: Senior Loan NOTE: Bank OZK provided a $117.2M senior loan to The Latigo Group for the development of Hillcrest Apartments, a 333-unit project in Thousand Oaks. The financing is part of a larger $182M capital stack arranged by JLL.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$117,000,000.00

Monthly NOI$780,000.00
Monthly Debt Service$739,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00