Tiburon Place

Overview

Deal Type Construction
Size $53 Million
4% bond LIHTC and State Housing Equity

Summary

Tiburon Place is a new construction, affordable housing development that will serve low-income family households and homeless households with serious mental illnesses. Located in San Luis Obispo (SLO), CA, the property consists of two three-story residential buildings, one community center, and 69 carport parking spaces, situated on a 2.11-acre of land. The residential buildings will house 68 units with a mix of 18 studios, 24 one-bedroom, and 25 two-bedroom, units at an average of 572 square feet.

Tiburon will offer units for individuals and/or families that fall within the 25%, 30%, 40%, 50%, and 60% AMI income levels. The former, served at the 25% and 30% AMI levels, are part of California’s permanent supportive housing program which helps to service homeless individuals, those prone to homelessness, and those with mental illness.  CA HCD provided $6.4 million through No Place Like Home and the City and County of SLO provided just under $2 million.

KeyBank Community Development Lending and Investment (CDLI) provided $30.3 million in construction and perm debt and $23 million in federal and state housing equity.

The primary philosophy shaping this project is the ‘Housing First’ approach, based on the principle that only with a secure living environment can health and life stability occur. In addition to providing permanent housing, behavioral health treatment, case management, and other services are provided that will help households stabilize and maintain their housing.  Services are provided through a coordinated entry system by Transitions Mental Health of SL along with SLO Housing Now Program and County of SLO Behavioral Health Dept. 

The project is sponsored by People’s Self-Help Housing Corp (PSHHC), the largest nonprofit housing developer on California’s Central Coast, with a mission to build affordable homes that offer opportunities to change lives and strengthen communities throughout San Luis Obispo, Santa Barbara, and Ventura counties. The architectural firm is CSA architects.

Recent Deals

June 2022


Series D Funding

led by

Morgan Stanley Expansion Capital

$140 Million

Exclusive Financial Advisor

Mergers & Acquisitions

platform-sh
June 2022

the parent company of

AEP Transmission Company, LLC

$550 Million

Senior Notes

Joint Bookrunner

Debt Capital Markets

aep-transmission-company,-llc
May 2022

 

a portfolio company of

has been acquired by

 

Exclusive Sell-Side Advisor

Mergers & Acquisitions

thermogenics-inc-
May 2022

 

Tiburon Place

$53 Million

4% bond LIHTC and State Housing Equity

Construction

tiburon-place
May 2022

 

$500 Million

Senior Secured Credit Facility

Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

delaware-basin-resources-llc
May 2022

 

Cheshire Station

 

$17.6 Million

Acquisition

Lender

CMBS

cheshire-station
May 2022

ACG Portfolio-Oakland Glen MHC

ACG Portfolio-Clayton Acres MHC

$59.5 Million

Refinance

Lender

Fannie Mae

acg-portfolio
May 2022

 

Stonetown - North Pines

Stonetown - Country Meadows

$82 Million

Acquisition

Lender

Fannie Mae

stonetown-trinity-portfolio
May 2022

Sawgrass Point

$28.5 Million

Refinance

Lender

Fannie Mae

sawgrass-point
May 2022

 

Floorplan Inventory Financing and Commercial Real Estate Lending

Lender

Mergers & Acquisitions

great-falls-subaru
May 2022

a portfolio company of

has acquired

 

$545 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Bookrunner
Left Lead Arranger

Debt Capital Markets

congruex-group-llc
May 2022

 

$2.55 Billion

Senior Secured Credit Facilities

Co-Documentation Agent
Joint Lead Arranger

Debt Capital Markets

penn-national-gaming,-inc-
May 2022

 

$95 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Lead Arranger
Sole Bookrunner

Debt Capital Markets

doyon-limited
April 2022

 

Rego Park II

$11 Million

Refinance

Lender

CMBS

rego-park-ii
April 2022

Festus Gardens

$9.7 Million

Acquisition

Lender

FHA

festus-gardens
April 2022

Aspgren Park

$54 Million

Construction Loan

Lender

Construction

aspgren-park
April 2022

a portfolio company of

has acquired

 

$2.77 Billion

Senior Secured Credit Facilities

Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

prince-international-corporation
April 2022

 

Canal 1535

$45 Million

Acquisition

Lender

Fannie Mae

canal-1535
April 2022

Plaza Palmera

$22 Million

Acquisition

Lender

Life Company

plaza-palmera
April 2022

 

$2 Billion

Senior Secured Credit Facility

Co-Syndication Agent
Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

pennenergy-resources,-llc

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