Sources of Financing
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Sources of Financing

L.J. Melody (214-692-9111) arranged equity/joint venture financing in the amount of $2.1 million for Country Club Plaza, a 50,000 sq.ft. mixed-use center located at the intersection of Legacy Drive and Country Club Drive in Frisco, TX. The project broke ground during July 2000. L.J. Melody arranged financing through Heller Financial on behalf of Sandler/Southwest. First American Bank provided construction financing.

The California Public Employees Retirement System (CalPERS) (916-326-3991) has designated $125 million for investment in urban areas in the state’s cities and communities. The system’s board of administrators authorized an investment in CIM California Urban Real Estate Fund, LP, an investment fund managed by CIM Group, LLC. The fund will target investments in commercial and residential real estate projects in urban areas throughout the state.