Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $107 million in financing for the construction of Adept Ontario, a 384-unit multifamily asset with 26,000 square feet of retail space located at 4117 E Concours Street in Ontario, California.
Stefen Chraghchian, senior director in MMCC’s Encino office, secured the financing with Affinius Capital and Bank OZK on behalf of the developer, Adept Urban Development.
“We thank our client for their trust in our expertise to arrange the construction financing for this transformative development, allowing their vision for this site to come to life,” said Chraghchian. “We navigated through a challenging lending environment to provide them with highly competitive terms.
Adept Ontario, the development project, represents a profound commitment to a region in Southern California that is experiencing continued population and job growth. As the first phase of a master-planned development, Adept Ontario will bring a distinctive range of unit types and amenities that are generally unavailable in the Inland Empire market.”
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion.
