Wednesday, January 6, 2016

HFF secures $11.6 million refinancing for The Q in San Diego’s Little Italy neighborhood

The Q Development, Little Italy Neighborhood, San Diego, CA

Aldon Cole
SAN DIEGO, CA, Jan. 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured an $11.6 million refinancing for The Q, a seven-story, 36,794-square-foot, mixed-use residential and retail development in downtown San Diego’s Little Italy neighborhood.

HFF worked on behalf of the borrower and developer, Jonathan Segal FAIA & Development Company, in arranging the 20-year, fixed rate, non-recourse, 4.61 percent refinancing with five years of interest only payments, followed by a 35-year amortization through one of HFF’s correspondent life company lenders, 

AEGON Realty Advisors, LLC, a commercial real estate investment and management arm of Aegon Asset Management.  HFF will service the loan.
The Q, designed and developed by the borrower, renowned San Diego architect and developer Jonathan Segal, was delivered in 2010 and features 28 luxury apartment units and five ground floor retail/office units leased to local eateries Underbelly, Monello, Bencotto and Influx. 

The residential units range from studio to two-bedroom/two-bath units averaging 991 square feet each.  Units feature floor-to-ceiling glass providing views of downtown San Diego and the bay.  

Jonathan Segal
The Q’s location in the heart of Little Italy provides residents with plentiful area amenities including restaurants, pubs, cafes, art galleries, shops and hotels all surrounding Amici Park.  

The property has easy access to both the Pacific Coast Highway and Interstate 5 providing access to the greater San Diego and Southern California area.

HFF’s debt placement team representing the borrower was led by senior managing director Aldon Cole..

For a complete copy of the company’s news release, please contact:

 Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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