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California  + San Diego  + Finance  | 

Two-Building Oceanside Resi Property Lands $50M Financing

JLL arranged $50 million in financing for Pierside, a two-building, mixed-use property with 176 residential units and approximately 17,000 square feet of retail space in the San Diego suburb of Oceanside. A San Diego-based capital markets team of director Olga Walsh and analyst Daniel Pinkus worked on behalf of the borrower to arrange the 10-year, fixed-rate loan with a life insurance company.

Loan proceeds will be used to retire the existing construction loan, cover associated transaction costs, fund leasing costs for vacant retail space and return a portion of sponsor equity.

Pierside was constructed in two phases, the 66-unit Pierside North and 110-unit Pierside South, that were completed in 2016 and 2018. Located in the heart of Oceanside along Mission Avenue, the property is a short distance from the Pacific Ocean and also less than a mile from Interstate 5.

Pictured: Pierside South.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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