Priority Capital Advisory Secures $174 Million Loan For Blosser Ranch Development In Santa Maria
$174,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 15, 2026
AI
The transaction involves Blosser Ranch, a 160-acre master-planned development site located on South Blosser Road in Santa Maria, California. The property is primarily designated for development purposes and is aimed at addressing the housing needs in the region.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $174,000,000
- Address: South Blosser Road, Santa Maria
- Lender: Andy Klein - Lionheart Strategic Management; Garron Robinson - Centennial Bank
- Broker: Zachary Streit - Priority Capital Advisory
- Loan Type: Construction & Land Recapitalization
- Development Scope: First phase includes 302-unit, three-story multifamily phase within a six-phase, 1,500-unit community
Priority Capital Advisory arranged the construction and land recapitalization loan, emphasizing the project's role in facilitating residential development amid Santa Maria’s housing shortage. This financing approach aligns with the regional growth and employment demand.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93