JLL Capital Markets secured $107 million in acquisition financing with a $5-million operating reserve for a redevelopment project located in Brea. Senior managing director Matt Stewart, directors Kellan Liem and Serge Sarkissian and associates John Rankin and Kyle White represented Dwight Manley in arranging financing from funds managed by affiliates of Fortress Investment Group.
“This transaction represented a rare opportunity to acquire one of the largest contiguous sites available in infill Southern California,” said Stewart. “Dwight Manley has executed a masterclass in thoughtful urban infill development that will be studied for years to come. By bringing the City of Brea together with best-in-class operators, Mr. Manley will transform a vacating commercial building into a dynamic mixed-use community that will benefit the City of Brea and its residents tremendously.”
Plans for the 33.94-acre redevelopment site include flagship retail store and residential development. Manley has been actively involved in downtown Brea development for nearly 25 years.
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