2005 Transactions
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.
Tony Kolomayets, a Senior Director with Tremont,
arranged the 24-month, $4,080,000, land loan which provided
for 70% loan-to-value. According to Kolomayets, "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:
Tony Kolomayets
Senior Director
Email: tkolomayets@tremontcapital.com
Phone: 312.236.0970
