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Irvine, CAMadison Realty Capital and The Bluestone Group provide $30.5 million acquisition financing for a 6-acre mixed-use development site. The package includes $24.5 million first mortgage loan from MRC and an additional $6 million in preferred equity provided by The Bluestone Group for the balance of the loan.

Located at 18582 Teller Avenue in Irvine, the site is 6.25 acres. The unnamed borrower is planning a large-scale mixed-use development including a 991,466-square foot development project is expected to consist of a 242-key, 11-story hotel with expansive conference and amenity space, 16 condo units, a 154,990-square-foot commercial building with retail, office, and medical office uses, and an 896-space parking garage.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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