California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Hunt Real Estate Capital Finances La Mesa MF
Hunt Real Estate Capital provided a $25.5-million loan under the HUD 223(f) Heavy LIHTC program to finance La Mesa Springs, a multifamily property in La Mesa, CA. The low-income HUD subsidized 62+ elderly project consists of an eight-story apartment building containing 129 apartment units.
The property was built in 1980 and 1981, and includes an on-site rental office and a separate single-story community building. The development team is made up of Jonathan Rose Companies and Wakeland Housing & Development Corporation.
Proposed project improvements include fully-renovated kitchens, updated bathrooms, new plumbing and lighting fixtures, interior and exterior window and door upgrades, fully-redesigned common spaces, new fitness center, new business/learning center, updated lounge, library, and leasing areas with added amenities.
Hunt’s Tim Hoppin says, “Despite the extensive updates planned, the property is in very good condition and will continue to be well maintained. The repairs are designed to replace items nearing the end of their useful life, and continue to offer tenants a high-quality home.”
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




