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California  + Apartments  | 

Hines Launches Construction on 200-Acre MXU in Mission Valley

Hines, in partnership with Affinius Capital, Bank OZK, Related Fund Management and Heitman, has begun construction on phase one of Riverwalk San Diego, a transit-oriented, 200-acre mixed-use village located in the Mission Valley submarket. Phase one will deliver 721 market-rate apartments, representing 17% of the total project, which will also include retail, office space and parks.

“At Hines, we believe this is the moment to act boldly, to invest in projects that reflect long-term fundamentals and deliver lasting value,” said Ray Lawler, head of Americas at Hines. “Riverwalk is a powerful example of that conviction, which plays out in the living sector. We believe in creating community-first, transformative environments that meet today’s needs and shape tomorrow’s cities.”

The launch of construction follows the securing of $380 million in financing, comprising a $278-million senior loan from Bank OZK and a $102-million mezzanine loan provided by Related Fund Management, originated through its Related Real Estate Debt Fund IV.

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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).

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