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$51.1m in construction financing secured for 50-unit active adult luxury condo development in California
Transactions - FEBRUARY 14, 2024

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$51.1m in construction financing secured for 50-unit active adult luxury condo development in California

by RELEASED

JLL Capital Markets announced that it arranged $51.1 million in construction financing for 375 W. El Pintado, a 50-unit, active adult luxury condo development in Danville, Calif.

JLL represented the borrowers, Jeff Stone of Diamond Construction Inc., and three high net-worth individuals, in securing the financing from a Southern California-based lender.

The development will comprised 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units, with amenities that include a lounge, game area, library, rooftop terrace with bocce ball, firepits, barbecue and fitness center. The project is deed restricted to owners above the age of 55 and is planned to be delivered in 2025.

375 W. El Pintado is within walking distance from Danville’s downtown, with quick access to dining, luxury boutiques, a weekly farmer’s market and a shopping center anchored by Trader Joe’s.

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