Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

More from this author


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.