IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, announced the $60.9 million refinancing of a 28.9-acre oceanfront redevelopment project located in Huntington Beach, Calif.
IPA Capital Markets, secured an 18-month, non-recourse loan on behalf of a California-based investment and development firm.
The project plan includes residential and hospitality development and was approved by the Huntington Beach City Council on Sept. 17, 2024. The residential development plan includes more than 200 for-sale, single-family detached and attached homes, and a 50-unit affordable housing community with 25 units to be rented to hotel workers employed on-site and nearby. The hospitality development plan includes a 215-room boutique hotel with 19,000 square feet of retail space. The project plan includes 2.8 acres of coastal conservation and 4.4 acres of public parks.
The project is in p
