EBSC Lending announced today that it successfully provided a $71.5 million loan in senior secured construction facilities for iCapital Network.
IRVINE, CALIFORNIA, UNITED STATES, October 30, 2023 /EINPresswire.com/ — EBSC Lending announced today that it successfully provided a $71.5 million loan in senior secured construction facilities for iCapital Network. The loan will be used for the construction of a mixed-use development in San Diego, California EBSC Lending acted as sole lead arranger, sole bookrunner, and administrative agent on the transaction.
The development consists of 113,000 square feet of retail space and 267 residential rental units. As part of the above transaction, approximately $47.1 million of the total loan amount will be used for residential construction and $24.4 million will be allocated for retail space. “We are pleased to support the financing needs of iCapital Network,” said Martin Alex, CEO of EBSC Lending. “We look forward to working with them again and supporting any future financing needs they have.”
EBSC Lending is headquartered in Irvine, California. EBSC Lending was founded in 2021 by Martin Alex and has deployed more than $950MM since inception with virtually no losses. EBSC Lending provides credit facilities and term loans to companies in an array of industries that seek to access capital outside of traditional bank lending. EBSC Lending provides customized lending solutions for real estate investors and developers – An unmatched combination of agility, reliability, fiduciary rigor & personal touch. EBSC Lending Provides Creative And Efficient Real Estate And Asset Lending, Nationwide.