After nearly 3 years of challenges and delays, the Roripaugh Ranch master planned community in the northern part of Temecula recently took a major step forward. Local finance company Builders Capital put together a $140 million finance package, which will allow the developer, Ashby-USA, LLC to complete the infrastructure necessary for the construction of more than 1,800 homes, retail stores, and the connection of Butterfield Stage Road to Murrieta Hot Springs Road.
Dave Fogg and Ken Rose, Principals of Builders Capital, were very pleased to see the deal go through. “We were aware of the challenges the project faced and we believed we have the perfect solution for financing out the infrastructure. The result was the largest loan Builders Capital has ever arranged. Long-term relationships were the key to our success,” Fogg explained.
Commuters will eventually benefit from this deal as well. Now that financing is in place, the development of Roripaugh Ranch will proceed, including the completion of Butterfield Stage Road from Rancho California Road to Murrieta Hot Springs Road. This will result in improved traffic circulation in the northern and eastern parts of Temecula, and alleviate congestion in the city’s core, especially near the Winchester and Margarita Road intersection.
While this project represents the largest successful Builders Capital loan to date, most of the company’s efforts are directed toward helping small to medium-sized developers in the Southern California region. “That’s what we really specialize in,” Rose added. “It’s great to get involved in major projects from time to time, but our primary satisfaction comes from helping local builders connect with the right financial resources, and make the California dream come true right in our own backyard.”
For more information about Builders Capital, call 951-587-0070, write to 28475 Old Town Front Street, Suite D, Temecula, California, 92590, or visit them online at www.builderscapital.com.