With construction under way on the first condos at the Hunters Point Shipyard, developer Lennar Corp. has snagged a $30 million loan from Pasadena-based East West Bank.

While the loan is relatively small in the context of a massive $8 billion project, it is significant because it represents the first commercial lender to finance construction activity at the Shipyard, which is being developed by Shipyard Communities, a partnership led by Lennar Corp.

via Lennar snags $30 million loan for Hunters Point Shipyard development – San Francisco Business Times.