Principal Real Estate Investors Provides $93M Construction Loan For Multifamily Property In Redlands

The property involved in this transaction is a multifamily asset located at 1600 Orange Avenue in Redlands. The site spans 22 acres and contains a total of 328 units. The loan amount for this construction financing is $93,000,000, with a loan type defined as a construction loan featuring a 5-year, floating-rate term.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $93,000,000
• Address: 1600 Orange Avenue
• Market: Redlands
• Acres: 22
• Units: 328
• Lender: Principal Real Estate Investors
• Lender's Representative: Daniel J. Houston
• Landlord: LuxView Properties
• Broker: JLL
• Loan Type: Construction
• Loan Terms: 5-year, floating-rate

The deal involves key figures such as Daniel J. Houston representing Principal Real Estate Investors as the lender. LuxView Properties serves as the landlord in this transaction, with JLL acting as the broker facilitating the deal.