JLL arranges $14.25 million financing for Arbor Terrace in San Diego, CA

Rendering of planned Arbor Terrace, a five-story, 50-unit multi-housing project located in San Diego’s Hillcrest submarket

SAN DIEGO, CA – JLL announced it has arranged $14.25 million in financing for the development of Arbor Terrace, a five-story, 50-unit multi-housing project located in San Diego’s Hillcrest submarket.

JLL worked on behalf of the developer, 325 Arbor Terrace LLC, a partnership owned by the Tibbitts family of San Diego, to arrange the two-year, floating-rate construction loan through Pacific Western Bank.

Arbor Terrace will be developed on a 0.3-acre site at 4186 4^th Avenue a few blocks from the 390-bed UC San Diego Medical Center, Hillcrest and the 700-bed Scripps Mercy Hospital San Diego. 

Aldon Cole

Future residents will also have access to the neighborhood’s eclectic entertainment, dining and retail amenities as well as Balboa Park. 

The property’s 50 units will include a mix of studio and one-bedroom units averaging 560 square feet situated above a two-story parking garage. Completion is expected in first quarter 2021.

The JLL Capital Markets team representing the developer was led by Senior Managing Director Aldon Cole.

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Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc., a licensed real estate broker (CA RE Broker License No. 01856260).

Contacts: 

Aldon Cole, JLL Senior Managing Director 

CA License No: 01457351

Phone:  +1 858 552 7690

Email: Aldon.Cole@am.jll.com

 Olivia Hennessey, JLL Public Relations Specialist

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com