ABP Capital, a diversified private financing and investment firm, recently closed approximately $13 million in refinance and construction loans for two coastal housing developments in California. The transactions include The Enclave at Seabridge, a new 42-unit waterfront luxury condominium in Oxnard and the ground-up construction of twin 2,405 square-foot single family townhomes on the bluffs of Encinitas.

“These coastal projects underscore ABP Capital’s attraction to California seaside communities that are working to bridge the housing gap to meet market demand,” said ABP Capital Founder and Managing Member Michael Persall. “These transactions united our ability to deliver capital, expertise and creativity with strong product offerings to enable our borrowers to continue moving their projects forward.”  

The loans included:

Oxnard, California: A $10.6 million refinance loan was provided for The Enclave at Seabridge, a partially sold-out seaside community in Oxnard. Located in the Seabridge master-planned development, the complex offers both marina and mountain views and features 23 remaining condominiums in a 42-unit development, along with a single level and underground parking garage. The property is situated near Oxnard Shores Channel Island Harbor, a portal to desirable city parks, waterfront activities and is walking distance to a variety of dining and retail destinations. The loan allows the borrower to refinance existing debt to comfortably sell the remaining units.

Encinitas, California: ABP Capital provided a $2.3 million construction loan for the ground-up construction of two single-family townhomes in North San Diego County. Each 2,405 square-foot unit will be a three-story design featuring four bedrooms, 2.5 bathrooms, basement-level garages and high-end finishes. Located on the bluffs of Encinitas, the residences border the Pacific Ocean and offer convenient access to the 5 freeway. With short supply of developable land in the Encinitas submarket, ABP Capital helped the borrower meet market demand for new housing.

About ABP Capital

ABP Capital is a leading, highly diversified private financing and investment firm based in Encinitas, Calif. Founded in 2012, ABP Capital fosters a top-tier team of professionals focused on transactions ranging from $2 million to $100 million in California, and more than $5 million in other states nationwide. ABP Capital is backed by owner-provided capital, allowing for the development and management of complex deals and fast closings on both bridge and construction loans. To learn more about ABP Capital visit www.abpcapital.com. Follow ABP Capital on Facebook, Twitter and LinkedIn.