Cross-Office Team Closes Multi-Million Dollar Apartment Complex Refinancing in Southern California
Fontana, Calif. (March 15, 2019) - A cross-office team led by Los Angeles Partners Alexis Crump and Steven G. Gatley, Tampa Partner Steven Holtzman, and Los Angeles Associate Christopher Babadjanian recently closed a $22 million refinancing and new construction loan for a 240+-unit apartment complex in Fontana, California.
The team was assisted by Fort Lauderdale Partner Solomon B. Zoberman, Los Angeles Partner Eric C. Castro, and Houston Partner Andrew Pidgirsky, who provided the Opinions Committee review for the deal.
Ms. Crump said, “It was meaningful for me to do this deal in the Inland Empire in 2019, after working to grow the area in the past for so long.”
Members of Lewis Brisbois’ Municipal Finance Group completed dozens of housing and infrastructure project financings to help grow the Inland Empire after the closing of George Air Force Base in the late 1980s until 2011, when redevelopment was terminated by Governor Jerry Brown. Such projects include the drafting of the Base Closure Law for George Air Force Base, development of the San Bernardino International Airport, and development of the State Building, among many others.