Scripps Investment & Loans provided DA Development and CTI Construction with $13,050,000 in acquisition & development financing, for the borrower's Stonehedge project located at the intersection of Joshua Street and C Avenue in Hesperia, California. The financing was structured as a 12-month loan secured by a first deed of trust. Loan proceeds were used for the purchase of 228 acres of land and provided approximately $3 million to complete the on-site and off-site infrastructure on the west side of the project (167 acres) and finish the first 67 lots. The completed project is entitled for a total of 230 single family residential homes in an upscale gate-guarded community, offering views of the Mojave River, Lake Arrowhead and Lake Hesperia.