A joint venture of The Ratkovich Company and Jerico Development has broken ground on a 42-acre redevelopment project on the San Pedro waterfront landing a $90M financing package.
The loans for the West Harbor project, a retail and entertainment, includes $55M in Commercial Property Assessed Clean Energy (C-PACE) financing from Austin-based Petros PACE Finance and a $35M senior construction loan.
The new financing is in addition to $65M in backing from Sacramento-based Osprey Investors.
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