California Public Finance Authority Provides $252.1 Million Financing For The Marisol Development Site

The property asset involved in this transaction is a development site located at 2120 Main Street in Huntington Beach, CA. The site is designated for a seniors housing development named The Marisol, which will comprise 214 units. The financing secured for this project amounts to $252,100,000, structured through both tax-exempt and taxable bonds, and is intended to facilitate the construction of the development ahead of its projected completion in 2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $252,100,000
• Market: Huntington Beach, CA
• Lender: California Public Finance Authority
• Brokers: JLL & HJ Sims
• Project: The Marisol, a seniors housing development under construction
• Units: 214

JLL and HJ Sims were responsible for arranging the loan financing through the California Public Finance Authority, which is split into multiple tranches to support the delivery of the Main Street project. Their involvement is instrumental in facilitating the financial support required for the development of The Marisol.