LOS ANGELES, CA (February 1, 2016) – Canyon Partners Real Estate LLC (“Canyon”), a commercial real estate investment firm, closed four investments totaling $64.2 million in the Southwestern region of the United States during the fourth quarter of 2015. The investments included debt and equity transactions to finance the development of multifamily, condominium and mixed-use properties in primary and secondary markets in California and Nevada. These transactions are representative of Canyon’s focus on providing transitional capital to experienced sponsors to facilitate acquisition, value-add repositioning, development or recapitalization.
Canyon’s fourth quarter closings in California included:
-A $16.9 million senior construction loan to fund the development of a 32-unit condominium project located at 4220-4240 Laurel Canyon Boulevard in Studio City, CA. The project is located in a desirable part of Studio City, south of the 101 Freeway and near the Ventura Boulevard retail corridor.
-A $15.9 million senior construction loan to fund the development of The Enclave, a 42-unit condominium project located at 4000-4082 Tradewinds Drive in Oxnard, CA. The property is situated on 1.55 acres of waterfront land in Seabridge, a master-planned residential marina community.
Canyon’s fourth quarter closings in Nevada included:
-A $7.7 million preferred equity investment in a joint venture with an affiliate of Watt Companies, Inc. to fund the development of South Beach, a 220-unit Class A multifamily project located at Russell Road and I-215 in Las Vegas, NV. The property will feature luxury amenities including a 2,000 sf salt water pool, a one-acre community courtyard, dog parks, a 4,500 sf fitness center and a 12,000 sf community center.
-A $23.7 million senior construction loan made to an affiliate of G2CapCo and Taylor Derrick Capital to fund the development of University Gateway, a mixed-use project in Las Vegas, NV. The two-phase project consists of the construction of an 813-car parking garage with a 10,000 sf office component (Phase 1), followed by the construction of a mixed-use retail and office building (Phase 2). The project is located on a 2.2 acre parcel across from the main entrance of the University of Nevada, Las Vegas campus at 4700 South Maryland Parkway.
Canyon has a long track record of deploying debt and equity capital for commercial real estate transactions in the California and Nevada markets, having invested nearly $2 billion in these markets since 1994 and a total of $388 million in the last 18 months.
To contact Canyon regarding new debt or equity opportunities across the US, please visit our website www.canyonpartnersrealestate.com for our regional contact information or call our main office at 310-272-1500.
About Canyon Partners Real Estate LLC
Canyon Partners Real Estate LLC (Canyon) is the real estate direct investing arm of Canyon Partners, LLC. Canyon focuses on providing debt and equity capital for commercial real estate in primary and secondary markets across the U.S., primarily to facilitate asset acquisition, value-add repositioning, development or recapitalization. Since inception, Canyon has invested over $6.0 billion of capital in over 230 commercial real estate and mortgage transactions with a total capitalization of $15.8 billion through its distinct real estate investment platforms.
Founded in 1990, Canyon Partners, LLC is an investment management firm headquartered in Los Angeles which, together with its affiliates, manages over $23 billion of assets. For more information visit: www.canyonpartners.com.
(914) 686 5599