San Pedro Development Lands $110 Million Loan
A rendering of a house designed for the San Pedro development under construction. A joint venture between Harridge Development Group, Silverpeak Real Estate Partners and a subsidiary of Cerberus Capital Management has received a $ 110 million loan for single family homes in San Pedro. The money was raised by Madison Realty Capital for the development on S. Western Ave. 27812 provided. According to Madison Realty Capital, most of the land in the proposed master community has been sold or is under construction with developers. The plots were purchased in 2018 and the site with infrastructure and roads prepared for sale to national construction companies. Adi Chugh of Maverick Commercial Properties advised the borrowers on the transaction. “We are pleased to offer an attractive, flexible financing solution to an institutional sponsorship group to support the f...