$203M in Refinancing Secured for San Diego Multi-Housing Community
JLL Capital Markets has announced it has closed the $203 million construction financing for Vive Luxe, a Class A, 442-unit multi-housing complex in San Diego. The JLL Debt Advisory team of Aldon Cole, Tim Wright, Bharat Madan and Mariah Feghali represented the borrower, Sunroad Enterprises, to secure the five-year bridge loan.
Completed just recently, Vive Luxe offers studio, one-, two- and three-bedroom units with gourmet kitchens, stainless steel appliances, wood-style flooring and open-concept living spaces. Common areas feature a resort-inspired pool and spa, a wine lounge and a sky deck. The property is also proximate to major employment centers and downtown San Diego.
“This financing concludes the final capitalization on one of the most high profile, infill developments in San Diego’s recent history,” said JLL’s Cole in a news release. “The debt market aggressively pursued the opportunity and held terms through a volatile time, which emphasizes the long-term, irreplaceable nature of this marquis development.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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