Diamond Construction Secures $60.5 Million Construction Loan For Oak Hill Development In Lafayette

The property asset involved in this transaction is a development site located at 1001-1009 Oak Hill Road in Lafayette, CA. The project encompasses a construction loan amounting to $60,500,000, which is designated for the development of an 85-unit luxury condominium project, scheduled for completion in 2028. The development will feature 85 for-sale residences, along with 11 below-market-rate units and an adjacent 2,000 square feet of ground-floor retail space next to the Lafayette BART station.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $60,500,000
• Address: 1001-1009 Oak Hill Road
• Market: Lafayette, CA
• Lender: Centennial Bank & PCCP
• Landlord: Jeff Stone - Diamond Construction
• Brokers: Matt Cimino & Jordan Angel - JLL
• Loan Type: Construction

JLL Capital Markets played a pivotal role in arranging the $60.5 million in construction financing provided by Centennial Bank and secured joint venture equity from PCCP for Diamond Construction’s project. This transaction supports a significant real estate development aimed at enhancing the downtown Lafayette area.