The Carina in Santa Ana secures $144M construction financing

ORANGE COUNTY, Calif., April 7, 2026 –  JLL Capital Markets announced today that it has arranged a $144 million construction loan for The Carina, a 408-unit multifamily development project in Santa Ana, California.

JLL represented the borrower, Affinius Capital, in securing the three-year, floating-rate loan through QuadReal.

The Carina, located at 2828 N. Main St. in Santa Ana, is strategically positioned adjacent to MainPlace, a prominent mixed-use retail, dining and entertainment destination in the heart of Orange County. The property offers exceptional access to Interstate 5, State Road 55 and State Road 22, providing residents with connectivity to Northern and Southern Orange County, Los Angeles, San Diego and the Inland Empire.

National real estate company, Lowe, is managing the development of The Carina. Upon completion, The Carina will rise across nine levels with Type III construction over Type I podium, including one level of below-grade parking. The community will feature a mix of studios, one- and two-bedroom apartments with market-leading amenities including a resort-style swimming pool on an open-air fourth floor deck, outdoor lounge and kitchen, high-end fitness center, yoga and spin studio, resident game room, individual study rooms and offices, dog run and wash and dedicated on-site security. Units will feature high-end stainless-steel appliances, in-unit washers and dryers, quartz countertops, wood plank style flooring and spacious private balconies.

JLL Capital Market’s Debt Advisory team was led by Senior Director Jamie Kline, Director Charlie Vorsheck, Senior Analyst Nick Englhard and Analyst Charlie Paul.

"The successful arrangement of construction financing for The Carina demonstrates continued confidence in the Orange County multifamily market," said Kline. "This project's prime location adjacent to MainPlace and its proximity to major employment centers make it an exceptionally attractive investment opportunity."

Construction began in April 2026, with first units scheduled to be delivered in May 2028 and final completion expected in October 2028. Property management will be provided by Greystar, which currently manages over 950,000 units globally.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Affinius Capital® is an integrated institutional real estate investment firm focused on value creation and income generation. With a 40-year track record and $61 billion in assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally.  For more information, visit www.affiniuscapital.com. 

Los Angeles-based Lowe, is a leading national real estate investment, development and management firm. Over the past 54 years, it has developed, acquired or managed more than $38 billion of real estate assets nationwide as it pursued its mission to build value in real estate by creating innovative, lasting environments and meaningful experiences that connect people and place. Lowe currently has more than $2.6 billion in commercial real estate projects in the pipeline or under development. Lowe maintains regional offices in Southern California, Northern California, Charleston, Denver, Seattle and Washington, D.C. For more information visit: www.Lowe-RE.com