Westlake Villas will be situated in the Westlake community, considered one of the most prestigious areas of Sacramento. It will contain 285 units totaling 324,000-sf in 30 buildings.
"This represents our second construction loan for an apartment project for the developer - Meer Captial Partners," says John Ascher, Corus Bank Vice President. "Corus Bank takes great pride in doing repeat business with our customers, and we are very pleased that this loan marks a deepening of our relationship with the Meer team. This loan provides yet another example of Corus Bank's speed and flexibility in providing financing packages. We met the borrower's tight timing requirement by closing on the loan only three weeks after receipt of the application. Also, our responsive management structure allowed us to accommodate last-minute changes in loan terms requested by the borrower."
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