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| Rendering of Planned Eighteen Ten St Multi-Housing Development, Little Italy Neighborhood,San Diego, CA |
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| Tim Wright |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $42.54 million in
development financing for Eighteen Ten
State St., a 99-unit, Class A, multi-housing development in the Little
Italy neighborhood of San Diego, California.
Working on behalf of the
developer, McMillin Companies, HFF arranged the participating first mortgage
through a UBS Asset Management investor account for development financing.
Eighteen Ten State St.
will be constructed at 1810 State Street in downtown San Diego on one of the
last remaining developable sites in Little Italy.
With a Walk Score of 98, the residential
building will be steps away from restaurants, shopping, entertainment and the
trolley, train station and COASTER, providing access to the rest of downtown,
San Diego and Southern California.
Designed by AVRP Studios,
the eight-story building will have four levels of subterranean parking totaling
115 parking spaces. The building will
feature a community center, community decks, and a mix of studio, one- and
two-bedroom units averaging 724 square feet each.
HFF’s debt placement team
representing the borrower was led by senior managing director Tim Wright and director Zack Holderman.
According to HFF, the
success of the financing speaks to the quality location and capital’s
willingness to provide construction financing to qualified sponsors in strong
markets.
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 | www.hfflp.com
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