SEBASTAPOL, CA - Lucent Capital has arranged a $23.5 million construction loan for The Barlow, a 216,000-square-foot adaptive-reuse project in this coastal city in California’s wine country. The borrower is Highway Partners.

The loan is unusual, because The Barlow is a non-standard project in a small market: The rehabbed business park has been designed to accommodate industrial tenants such as wine and cheese makers and glass blowers as well as merchants selling local farm produce. The project will also feature bocce ball courts, restaurants, fire pits, and space for community activities.

Lucent Capital president Ethan Schelin, who says he surveyed a wide field of lenders, including life insurance companies, regional banks, national banks and Wall Street funds to identify a lender that would understand what he calls ”the unique character of the asset.”