Canyon Funds Completion of Riverwalk Multifamily

RIVERSIDE, CA-Canyon Capital Realty Advisors LLC (Canyon Realty) has provided a $42 million senior construction loan to an affiliate of Griffin Real Estate Management to complete work on a partially constructed 264-unit class A multifamily community set on 13 acres here.

The project site, located at the corner of Riverwalk Parkway and Sierra Vista Avenue, is currently under construction by Griffin Real Estate Management, a fifth-generation California-based homebuilder that has developed more than 40,000 homes. When complete, the property will feature 264 one-, two- and three-bedroom apartments within a gated community that features extensive common area amenities, including a clubhouse, fitness center, media lounge, resort-style pool and barbeques. The project is part of the Riverwalk Commons master-planned community.