Development funded.

Canyon Capital Realty Advisors and San Francisco-based California Mortgage and Realty, funded a $97.9 million bridge loan to Halekua Development Corp. so the company can exit from bankruptcy. The loan will repay all of Halekua's secured creditors on a community development project planned for a 161-acre residentially zoned piece of land overlooking Pearl Harbor, 30 minutes west of Honolulu. The money also will cover $20 million in pre-development and infrastructure expenses. The development, known as Royal Kunia, was stalled in 2003 when Halekua filed for bankruptcy. Plans call for 2,000 homes, 600 of which will be affordable units.