IE Business Daily Business news for the Inland Empire.
Financing has been secured for construction of a 384-unit multifamily project in Ontario.
Marcus & Millichap Capital Corp. has negotiated $107 million for the development of Adept Ontario at 4117 E. Concours St., according to a statement.
The project next to Toyota Arena will include several digital media signs and 26,000 square feet of retail space.
Adept Urban Development in Pasadena is developing the project, which has broken ground, according to multiple reports.
A construction timeline has not been announced.
“Adept Ontario represents a profound commitment to a region in Southern California that is experiencing continued population and job growth,” said Stefen Chraghchian, senior director with Marcus & Millichap Capital Corp., in the statement, “It will bring a distinctive range of unit types and amenities that are generally unavailable in the Inland Empire market.”
