2005 Transactions

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Tremont Structures $4,080,000 Financing for California Land Acquisition

The Chicago office of Tremont Realty Capital arranged acquisition financing for Rock Springs Ranch, with the purpose of residential development in Hemet, CA. This 472-acre land entitlement project is located in Homeland, California which is next to Lake Elsinore, and 30 miles due east of Irvine, across the Santa Ana mountains.

A Senior Director with Tremont arranged the 24-month, $4,080,000, land loan which provided for 70% loan-to-value. According to Tremont, "We had a tight time frame to close because previous financing fell through and finding lenders who fund land loans nationally is difficult. The lender, (a local Chicago bank), appeared to be the perfect candidate. "

For additional information on this transaction, please contact:

Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960