BellaVista Capital, a real estate finance company in Santa Monica, Calif., has registered with the Securities and Exchange Commission for $1 billion in asset-backed securities, signaling the imminent arrival of a new player in the ABS market.

The company focuses on developing residential real estate through senior construction debt, subordinated debt, and mezzanine and equity financing, and is currently invested in up to $10 million in projects in the western and southern U.S. Total costs are between $3 million and $80 million, according to the company's Web site.

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