Anaheim, Calif., Mixed-Use Condo Project Secures $17.2Mln in Financing

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Jill Ambroz,

A venture between Urban West Strategies and St. Clair Meyers Partners has secured $17.2 million in financing for a mixed-use development project near the Platinum Triangle in Anaheim, Calif.

Five Mile Capital Partners is providing the two-year, fixed-rate loan. Holliday Fenoglio Fowler LP arranged the financing.

The proceeds from the loan will be used for the acquisition and entitlement process of the property.

The venture plans to redevelop an 11.8-acre site at 593 West Ball Road into a 449-unit residential condominium project with retail space and underground garages. The project, to be called Parc Anaheim, will replace a 296-space recreational vehicle park. All existing structures will be razed.

Developer Urban West Strategies has projects underway throughout Orange and San Diego Counties in California. St. Clair Meyers Partners is an Orange County developer with projects in California and Arizona.