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Bankers Hill MF Refi’d by Nakhshab
San Diego-based Nakhshab Development & Design secured a $10.25 million Fannie Mae Green loan to refinance Truax Lofts and Truax House. The newly constructed, 36-unit, modern residential community at 2517 Union St. and 598 W. Laurel St. was built with eco-friendly materials in San Diego’s Bankers Hill neighborhood.
Truax Lofts consists of a new building with 26 units, and Traux House is a renovated, historic Craftsman with 10 additional units and a community room. Four units are designated very low-income units. Traux House was originally built in 1912 and served as the only hospice for AIDS patients during the epidemic. Nakhshab restored the structure and developed the new building on an adjacent plot. Both projects were named for AIDS awareness and prevention leader Dr. Brad Truax.
JLL Capital Markets’ Aldon Cole, Chris Collins and Anthony Rosetta worked on behalf of the borrower to originate the 10-year, fixed-rate loan.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




