IE Business Daily Business news for the Inland Empire.
Financing has been arranged for a planned mixed-use development in Rancho Cucamonga.
Marcus & Millichap Capital Corp. has secured $64 million for the construction of a multifamily, retail and commercial project at 8500 Haven Ave., according to a statement.
The financing took six months to arrange. Los Angeles-based Parkview Financial, which specializes in ground-up commercial and residential real estate financing, was the lender.
When completed, the project will include six residential buildings, a mixed-use building with 248 apartment units and ground-floor commercial space,
It will also feature, a retail building and several amenities, including a swimming pool, fitness center, pickleball court, clubhouse, laundry, and landscaped outdoor areas, according to the statement.
A construction schedule has not been announced.
In 2024, Marcus & Millichap Financial Corp. closed 1,249 transactions that combined were worth $9.1 billion, according to the statement.
