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California  + San Diego  + Finance  | 

JLL Arranges Refi on East County Apartments

JLL Capital Markets arranged a $2.53-million refinancing for The Madison Apartments, a 12-unit, newly renovated apartment community located at 5074-5084 Madison Ave. in San Diego. Working on behalf of the borrower, Pace Properties, JLL placed the three-year, fixed-rate loan with a regional bank.

The JLL Capital Markets Debt Advisory team representing the borrower was led by senior director Chris Collins and analyst Emily Pohlman.

Recently renovated in 2023, The Madison Apartments consists of eight two-bedroom units and four accessory dwelling units that are studios with loft space. All of the units offer newly renovated kitchens, bathrooms and new flooring.

The property is located in the East County submarket, home to San Diego State University. This area offers nine trolley stops connecting the submarket to Downtown San Diego, Old Town and the UTC and UC San Diego areas.

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JLL's Collins

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