Leap of Faith Partners (LOF), a developer, builder, and owner of residential and commercial real estate in Los Angeles, has plans to build a 125-unit, 10,000-square-foot, mixed-use development located at 2055 N. Ventura Ave. in Ventura, Calif.
Tauro Capital Advisors facilitated $52.4 million in construction financing for the project. The ground-up development sits on a six-acre site.
LOF placed $14.5 million in common equity (90-120) for modular construction of the mixed-use development.
“The developer was originally sourcing LP Equity for this transaction, which would have given them $6 million in cash out based on the imputed land value. The LP investor backed out of the transaction, so they hired us to source high leverage debt,” said Matt Bucaro, managing partner at Tauro Capital Advisors. “We were able to structure a senior lender + C-Pace, which required no more cash to close and the sponsor keeping all of the profit.”
Frankie Paparella, dir
