VENTURA, CA—Ventura Heritage Corp. ha secured a $30.6-million construction loan to cover a portion of the construction costs for its development Island View Apartments, a class-A multifamily property with 154 units. U.S. Bank funded the loan, which has a three-year term and two 12-month extension options.

“There were several institutions interested in providing the funds,” Marina Massari, EVP on CBRE‘s capital markets’ debt and structured finance team, tells GlobeSt.com. The borrower is very experienced in this market, which has a limited supply of new multifamily product.” Massari secured the funds on behalf of the borrower along with her CBRE capital markets colleague Sharon Kline, EVP. Both are located in CBRE’s Newport Beach office.

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