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IRVINE, CA-A joint venture of Miami-based Lennar Corp. and Canada’s Intergulf Development Corp. has landed $171 million in financing to develop the 240-unit Astoria condominiums as part of the Central Park West project, according to CBRE Melody. Craig Mueller of the Newport Beach office of CBRE Melody, which is the capital markets division of CBRE, tells GlobeSt.com that the $171 million includes a construction and mezzanine loan for the Astoria, a class A luxury development of two 14-story towers and a 574-space parking structure under way at the Central park West site.

Mueller and Anita Brown, also of CBRE Melody’s Newport Beach office, arranged the financing for the project, with ING Real Estate Financing providing the funds. The Astoria condominium project is part of a Central Park West master plan that calls for 1,380 housing units and other development on a 42-acre site is at the northwest corner of Jamboree Road and Michelson Drive, near the San Diego Freeway.

The developers describe the Astoria towers as a mix of units ranging from one to three bedrooms, including penthouses of two and three bedrooms, with living areas ranging from approximately 1,119 sf to 3,024 sf. The third floor of each of the two Astoria towers will feature a pool, a spa and a deck.

The Central Park West development that the Astoria towers are part of will feature several parks, landscaping, an 8,500-sf clubhouse, a resort style pool and cabanas and other amenities. In addition to its housing components, the Central Park West development also will include 19,700 sf of retail space and a four-story office building of up to 90,000 sf. The Lennar unit developing it is the company’s Orange Coast Land Division.

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