Home Featured Colony Credit Real Estate Closes Construction Financing on $190M JPI Project

Colony Credit Real Estate Closes Construction Financing on $190M JPI Project

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For JPI, a leader in the development of Class A multifamily communities, the goal of delivering a top-of-the-line community to the residents of Santa Clarita’s Vista Canyon is now within reach. The company recently closed construction financing on Jefferson Vista Canyon, a $190 million, 480-home luxury apartment community. Comerica Bank, based in Dallas, and Colony Credit Real Estate, based in Los Angeles, will provide construction financing for Jefferson Vista Canyon.

Jefferson Vista Canyon is the first major residential development within JSB Development’s Vista Canyon, a new 185-acre, mixed-use walkable community. The master-planned development will include retail, office, hospitality, apartments, townhomes and single-family residences, along with a new intermodal transit station and the Metrolink commuter rail at its center.

Also, a variety of single-family residences and a new 11-acre park will be located minutes away.

“Jefferson Vista Canyon is JPI’s third property within the Santa Clarita Valley and is a further reflection of our commitment to invest in developing communities in the region,” said Rosie Cooper, executive vice president and regional managing partner of the Western Region for JPI. “Our new luxury apartment homes will be a perfect fit for JSB’s vision of creating a living environment that integrates urban vitality and connectivity with its own 10-mile system of bike, pedestrian and equestrian paths in one of the nation’s largest urban environments.”

“Jefferson Vista Canyon is a great addition to the overall master-planned community, and we are excited to play a part in making it possible for the citizens of Santa Clarita,” said Matt Maberry, Comerica Bank’s vice president of national real estate services and the senior lender on the project.

Colony Credit Real Estate is one of the largest publicly traded commercial real estate credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities and net leased properties predominantly in the United States.