Crestline Investors, Everest Financial Services Close Senior Construction Loan for 83-Unit Multifamily Project in Ontario, California
Crestline Investors and Everest Financial Services have closed a senior secured credit facility to finance construction of Melodia, an 83-unit Class A multifamily development in Ontario, California, the firms announced. The project is sponsored by Ambitus Partners, a vertically integrated real estate development and investment firm based in Arcadia, California.
Specific loan terms, including loan amount, loan-to-cost ratio, interest rate, and projected rents, were not disclosed by the parties.
Deal Details and Sponsor Background
Melodia is described by the lenders as a ground-up infill project featuring a premium amenity package, situated within what Crestline characterized as one of the Inland Empire's highest-performing submarkets. A specific street address and unit mix have not been publicly disclosed as of the announcement.
Ambitus Partners focuses on developing and acquiring or repositioning multifamily assets in Southern California and industrial properties in Phoenix, Arizona. The firm employs a vertically integrated approach, coordinating inputs from general contractors, architects, and engineers early in the development process.
"We were drawn to the Melodia project given its premium amenity package and strategic location within one of the Inland Empire's highest-performing submarkets," said Wes Davidson, Director at Crestline Investors. "Ambitus has demonstrated a thoughtful approach to the project, and we believe it is well-positioned within the submarket to provide a premium rental offering."
"Crestline brought deep multifamily knowledge and a collaborative mindset to structuring this facility," said Eddy Wan, Principal at Ambitus Partners. "Their flexibility and speed allowed us to capitalize on a unique infill opportunity, and we're excited to deliver a high-quality residential community that reflects the evolving needs of the local renter base."
"It was a pleasure working with Crestline and Ambitus Partners to help bring this transaction across the finish line," said Ryan O'Donovan, Principal at Everest Financial Services. "Ambitus has built a compelling business plan for Melodia and has taken a thoughtful approach to delivering a high-quality multifamily community in a strong Ontario submarket."
Lender Backgrounds
Crestline Investors is a global alternative investment management firm founded in 1997 and headquartered in Fort Worth, Texas, with affiliate offices in London, New York, Tokyo, and Toronto. The firm manages approximately $18 billion of credit assets under management as of September 30, 2025, spanning capital solutions, direct lending, and portfolio finance platforms.
Everest Financial Services describes itself as a capital provider for real estate investors and developers underserved by traditional lending sources, with a focus on creative capital structures. Ryan O'Donovan, Principal at Everest Financial Services, was involved in the transaction.
Project and Sponsor Strategy
The Melodia project is consistent with Ambitus Partners' stated development focus on multifamily assets in Southern California. The firm's dual-market strategy encompasses multifamily in Southern California and industrial real estate in Phoenix, Arizona.
Crestline characterized Melodia as a "unique infill opportunity" in its announcement. The project is expected to deliver a Class A rental community to the Ontario submarket, though a construction timeline and projected delivery date were not disclosed in the announcement.