$37,500,000 Winery Anchored Mixed Use Center Refinance
SEBASTOPOL, Calif., Nov. 29, 2016 /PRNewswire/ -- Landmark Capital Advisors, a real estate capital advisory firm disciplined in structured finance and private equity, has completed a successful $37,500,000 million permanent loan transaction for a property located in Sonoma County, CA. The project features 2 full-scale production wineries, 2 breweries, a distillery, and complimentary retail and industrial uses.
Proceeds were used to refinance 17 buildings and 178,000 SF of space in downtown Sebastopol, CA. The financing was used to buy out an existing equity partner and replace the project's debt with long-term fixed rate financing.
Landmark Capital completed the complex transaction for an affiliate of Aldridge Development, a local developer with expertise in retail and multifamily communities throughout the Pacific Northwest. Ethan Schelin, Director at Landmark Capital represented the client and was a key player in the success of the transaction.
"I've been working with Ethan Schelin for 5 years. He has found incredible capital sources for my projects, with people and companies who are not only fun to work with, but the best in the business at what they do. If working with 'the A team' is as important to you as it is to me, then I can not recommend anyone higher than Ethan Schelin at Landmark Capital," said Barney Aldridge, principal of Aldridge Development.
"We are excited to have executed this transaction on behalf of Aldridge Development. This helped restructure the entities involved in the transaction more efficiently and set long-term rates that will help the project continue its success in the future," said Ethan Schelin, Director at Landmark Capital Advisors.
The team notes that a key aspect of completing this transaction was identifying a sophisticated lender who would understand the Sebastopol market, the unique tenant mix, and who was able to provide long-term debt at a competitive fixed rate.
Landmark Capital Advisors, a real estate capital advisory firm disciplined in finance and private equity works with owners, investors, and developers of commercial and residential real estate. Founded in 2011, the company raises real estate capital through institutional, private, and family office investors to finance a wide array of real estate projects.
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SOURCE Landmark Capital Advisors
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