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June 15, 2024
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Kearny Mesa Res Project to Move Forward with $99 Mil in Construction Money


San Diego-based real estate development firm AAA Management has landed $99.4 mil in construction financing for Ion Aero, a planned 302-unit mid-rise multifamily community located at 8555 Aero Dr in San Diego.

The community will provide new Class A housing in the Kearny Mesa submarket of San Diego. The eight-story project will have studio, one-, two- and three-bedroom units ranging from 500 sf to 1.4k sf. Some of the community amenities will include an indoor-outdoor fitness center and yoga studio, co-working space, a clubroom with indoor and outdoor entertaining space, playground, dog run, pool and spa and a seventh-floor sky lounge.

Bill Chiles, Scott Peterson and Morgon Fraser with CBRE Capital Markets' Debt and Structured Finance team in San Diego secured the three-year term, 75% loan-to-cost (LTC) construction loan.

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