Fortress Investment Group has closed a $112 million loan to support the acquisition and mixed-use redevelopment of a 33.9-acre site in Brea, California, led by local developer Dwight Manley.

Information on the Target

The target of this transaction is a 33.9-acre infill site located in Brea, California. This site has recently been acquired by an entity controlled by Dwight Manley, a well-regarded real estate owner and developer based in Brea. The redevelopment plans for the site aim to transform it into a high-quality mixed-use asset, pending necessary zoning and entitlement approvals. The project is set to feature a national wholesale retailer alongside a residential area that will include more than 250 townhomes developed by a national homebuilder. The existing property comprises five industrial and office buildings.

Industry Overview in California

California's real estate market remains one of the most dynamic and competitive in the United States, characterized by high demand and limited inventory. The commercial real estate sector has shown resilience and adaptability, with mixed-use developments increasingly gaining popularity amid changing consumer preferences and lifestyle trends. Cities like Brea are experiencing significant growth, driven by strategic redevelopment initiatives that incorporate residential, retail, and office spaces.

Furthermore, California's ongoing population growth creates a robust demand for both housing and commercial spaces. The shift towards incorporating more residential units into retail developments addre