Affinius Capital Secures $144 Million Construction Loan From QuadReal For 408-Unit Multifamily Development

The Carina is a multifamily development situated at 2828 North Main Street in Santa Ana, featuring 408 units across nine stories. The project is under construction, with a loan amount of $144 million provided for its development, scheduled for full completion by October 2028. Greystar is overseeing the construction management of the project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $144,000,000
• Lender: QuadReal
• Landlord: Len O'Donnell - Affinius Capital
• Brokers: Jamie Kline, Charlie Vorsheck, Nick Englhard & Charlie Paul - JLL
• Loan Type: Construction
• Loan Terms: three-year, floating-rate
• Location: Santa Ana
• Units: 408

JLL Capital Markets facilitated the loan arrangements on behalf of Affinius Capital. The development is strategically located adjacent to MainPlace, enhancing its accessibility to potential residents and services in the area.