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| The Q Development, Little Italy Neighborhood, San Diego, CA |
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| 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.
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| 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 | www.hfflp.com
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