Max Benjamin Partners Secures $96.8 Million Loan For Development Site In Paso Robles

A construction loan in the amount of $96,754,795 has been secured for a development site in Paso Robles. The site has a building square footage (BSF) of 226,926 and is located in the Central Valley. The loan is provided by Max B. Mellman, Jason Moyal, and Adam Tancredi of Max Benjamin Partners.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $96,754,795
• Market: Paso Robles
• BSF: 226,926

The loan is of the construction type and offers full capitalization, with a blended interest rate of 10.25% and no participation. Despite the recent challenges in the construction financing and equity markets, the strong sponsorship profile and high desirability of the project enabled Max Benjamin Partners to secure the full project financing. This included leveraging the value added during the contract period, imputed land value equity, PACE, solar income, and creative resources. Max Benjamin Partners looks forward to closely monitoring the progress of the project and ensuring its success.