ORIX USA’s Real Estate Capital Group announced the closing of a $11 million first mortgage construction loan that will be used for the adaptive reuse of a former department store into a 619-unit and 80,000 NRSF Class A self-storage facility in Florida.
“We are excited to successfully close this adaptive reuse self-storage transaction, which is a key component of a larger development project, by offering a flexible and innovative financing solution for this client.” said Allison Austin, Senior Director, ORIX USA Real Estate Capital.
ORIX USA’s Real Estate Capital Group is a proprietary commercial real estate lending business, delivering customized financing for a full range of property types in primary and secondary metropolitan markets in the U.S. and Canada. Loans made or arranged in California are pursuant to a California Financing Law license.
Since inception, the Real Estate Capital Group has successfully invested over $4 billion of balance sheet capital. For over 20 years the Real Estate Capital Group has been reliably providing construction and bridge financing for commercial real estate through a range of market cycles.
The Real Estate Capital Group is comprised of seasoned specialists transacting on a full range of property types. The group specializes in construction, bridge, mezzanine, and preferred equity opportunities and has fully dedicated origination, underwriting, closing, and servicing teams, ensuring that clients’ needs are met with timely execution.