Centerbridge Partners Lends $210M on Orange County, Calif., Condos Repositioning
By Andrew Coen June 23, 2026 2:56 pm
reprints
Developer Crescent Heights has sealed a $210 million condominium inventory loan for the transformation of a newly acquired former multifamily property in Santa Ana, Calif., into Orange County’s tallest residential complex, Commercial Observer has learned.
Centerbridge Partners supplied the loan for Skyline OC featuring 349 for-sale condos across two 25-story towers. Crescent Heights acquired the 2010-built complex for $240 million from Essex Property Trust in early 2025 and is in the process of selling the former apartment units as condos.
Newmark negotiated the debt with a team consisting of Jordan Roeschlaub, Nick Scribani, Ricky Braha and Holden Witkoff.
“The financing reflects strong lender conviction in both the quality of the asset and Crescent Heights’ proven track record of delivering landmark residential developments across the country,” Braha, senior managing director at Newmark, said in a statement.
Located at 15 MacArthur Place 38 miles southeast of Downtown Los Angeles, Skyline OC has amenities that include a swimming pool, a fitness center, coworking space, a pickleball court and a golf practice green.
Centerbridge Partners and Crescent Heights did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
