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| Mr. Robinson residential-retail development, Hillcrest Neighborhood, San Diego, CA |
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| Aldon Cole |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $12.5 million in permanent
financing for Mr. Robinson, a
newly-constructed, 42,923-square-foot, mixed-use residential and retail project
in San Diego’s Hillcrest neighborhood.
HFF worked on behalf of
the borrower and developer, Jonathan Segal FAIA & Development Company, in
arranging the 15-year, 4.52 percent, fixed-rate loan with five years interest
only through one of HFF’s correspondent life company lenders, Aegon USA Realty
Advisors, LLC, a commercial real estate investment and management arm of Aegon
Asset Management. Additionally, HFF will
service the loan.
Mr. Robinson was designed
and developed by the borrower, renowned San Diego architect and developer Jonathan Segal.
Completed in 2016, it
features 36 luxury apartment units, two ground floor retail units with large
outdoor patio spaces, one of which is leased to TRUST Restaurant, and a parking
garage.
The property received certificate of occupancy
in 2015. The residential units,
averaging 1,080 square feet each, range from lofts to two- and three-bedroom
units to penthouses and feature custom fabricated steel stairs with glass
handrails and high-end flooring and finishes.
Mr. Robinson’s location at
the corner of Park Boulevard and Robinson Avenue in Hillcrest provides
residents with access to Balboa Park, award-winning restaurants, shopping and a
3,000-square-foot community center. The
property is two blocks north of downtown San Diego and has access to the
Cabrillo Freeway via Robinson Avenue.
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| Jonathan Segal |
HFF’s debt placement team
representing the borrower was led by senior managing director Aldon Cole.
“We were uniquely able to
lock the interest rate and proceeds last year while the property was still
under construction, which enabled the borrower to take interest rate risk and
market volatility off the table, as well as allowing them to plan for other investment
strategies,” Cole said.
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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