Grosvenor Americas has committed a loan of $17.5 million for Dividend Homes’ Maravilla, a development of 55 townhomes in Mountain View, Calif.
The loan was made by the firm’s structured development finance team, which launched in 2015. The program is invested in several residential projects across Northern and Southern California, including Intracorp’s Amplifi, a 290-unit rental project located in Fullerton, and three other townhome projects developed by Intracorp in Irvine.
Since inception, Grosvenor’s structured development finance program has invested more than $480 million in over 70 projects and is active in Washington, D.C., San Francisco, Los Angeles, Seattle and Vancouver. It provides flexible financing to residential and mixed-use developers, with a focus on vibrant, well-connected locations.
