Toll Brothers Apartment Living Secures $31.7M JV Equity Loan For Development In Santa Ana

Located at 401 N Main Street in Santa Ana, a development project consisting of 218 residential units with 12,500 sq ft of ground floor retail has been completed. The property, named "Rafferty," was developed by Toll Brothers Apartment Living® in a Qualified Opportunity Zone (QOZ). The development was undertaken in partnership with a JV equity partner sourced by Noam Franklin, Chinmay Bhatt, and Cody Kirkpatrick of Berkadia JV Equity & Structured Capital Group. Since 2019, Berkadia JV Equity & Structured Capital Group has facilitated over $3 billion in capitalization across more than 60 transactions.

Summary of transaction details:

• Property Type: Development (218 residential units with 12,500 sq ft of ground floor retail)
• Date: 11/01/2021
• Address: 401 N Main Street, Santa Ana
• Market: Santa Ana
• Loan Amount: $31,700,000
• Loan Type: JV Equity
• Lender: EJF Capital
• Landlord: Toll Brothers Apartment Living
• Brokers: Chinmay Bhatt, Noam Franklin & Cody Kirkpatrick - Berkadia JV Equity & Structured Capital Group

Throughout the process, Toll Brothers Apartment Living worked closely with the selected JV partner to successfully execute the development agreement for the "Rafferty" project. The project's completion represents the ongoing commitment of Toll Brothers Apartment Living in creating high-quality residential communities in Santa Ana, contributing to the overall growth and development of the area.