The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
CBRE Arranges $145 Mil on Two Res Communities in San Diego’s UTC Submarket

10/25/16

The Premiere Residential has secured $145 mil in financing on two, Class A apartment communities located in the UTC submarket of San Diego. The transactions consisted of a $77.5 mil loan on La Jolla International Gardens (400 units) and a $67.5 mil loan on La Scala Apartment Homes (354 units).

La Scala Apartment Homes
La Scala Apartment Homes
Barry Petro of CBRE’s Capital Markets’ Debt & Structured Finance team, out of San Diego, arranged the 12-year, fixed-rate loans. The new loans will replace the existing CMBS loans and were funded by Prudential Mortgage Capital Company.

“The location of the two properties and the recent extensive renovations created a highly competitive bidding environment from life companies and agencies,” said Petro, senior vice president, CBRE Capital Markets.

Located at 3417 Lebon Drive, La Jolla International Gardens features a state-of-the-art fitness center, clubhouse with a billiards room, volleyball court and barbeque area. La Scala Apartment Homes is located at 3845 Nobel Drive and offers luxury amenities including a resort-style pool and spa, clubhouse with internet lounge and complimentary coffee bar.

The properties underwent extensive interior renovations during 2014 and 2015, and have occupancies exceeding 98 percent. The they are both situated in proximity to I-5 and I-805, and are surrounded by three major healthcare campuses, University of California, San Diego, Qualcomm, Westfield UTC Mall and numerous publically traded biotech and pharmaceutical companies.





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media