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California, Texas Projects Get Combined $17.5-Mil Mezzanine Loans

DENVER-MONY Real Estate Investment Management, based in Littleton, CO, has approved $17.5 million in mezzanine loans for Rio Vista Apartments in San Diego's Mission Valley and the Grand Venetian in Las Colinas, TX.

By John Rebchook | Updated on November 06, 2000

DENVER-MONY Real Estate Investment Management has provided $17.5 million in two mezzanine loans under a structured finance program it launched earlier this year.

The company, based in Littleton, a suburb southwest of Denver, is providing a $13.5-million mezzanine loan in conjunction with a $42.1-million construction loan for the 490-unit first phase of the Rio Vista Apartments. The funding is being provided by a group for commercial banks. Rio Vista is an infill development of class-A apartments in the center of San Diego’s Mission Valley. Eventually, it will have 1,263 units.

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