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7/15/25
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Radian, a 241-unit Class A multifamily property in downtown San Diego, has been refinanced with a new loan for $98 mil. The property, located at 675 Ninth Ave, just east of the city’s popular Gaslamp Quarter, is owned by a partnership between Cisterra Development and Spruce Capital Group.
Radian is a LEED Gold-certified property featuring a mix of one-, two-, and three-bedroom units, including five penthouses. The building includes a two-story ground-floor retail area and offers a range of amenities, including a rooftop pool and spa with views of Petco Park, downtown and the San Diego Bay.
Mark McGovern, Scott Peterson and Morgon Fraser with CBRE Capital Markets’ Debt & Structured Finance arranged the three-year, fixed-rate, permanent loan on behalf of the borrower.
“Radian exemplifies the next generation of urban living in San Diego,” said McGovern. “Its location, luxury finishes, and amenity-rich environment have made it a standout in the market. Radian has a walk score of 99 and proximity to public transportation. This refinancing positions the asset for long-term success as downtown San Diego continues to thrive.”
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