Viewpoint Development acquires iconic restaurant building in San Diego’s Old Town area for $9 million

  

SAN DIEGO, CA – Confirming the demand for well-located real estate, JLL and Flocke & Avoyer Commercial real estate announced that Viewpoint Development has acquired a 4,000-square-foot restaurant building located on 1.74 acres at 4620 Pacific Highway in San Diego, California for $9 million. 

 Brian Quinn

 

Viewpoint Development will develop residential housing on the site recently occupied by the iconic Perry’s Café restaurant with a portion of the historic cafe repurposed as part of the project. The company is still going through design approvals with the city for the new development.

JLL’s Brian Quinn and Steve Avoyer of Flocke & Avoyer Commercial Real Estate represented the seller, Georgakopoulus Family LLC, as well as Viewpoint Development in the sale.

 Steve Avoyer 

“Despite the economic and real estate challenges of this type of deal, we were able to work with both sides to get the closing to the finish line,” said Quinn, JLL Senior Vice President. “This was a collaborative effort by all parties to find the right buyer while overcoming environmental and historic issues.”

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

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JLL Capital Markets facilitates $70 million bridge loan for Atlantica at Town Center, a Class A apartment community in Davenport, FL

 

Atlantica at Town Center– Phase I, a Class A,
360-unit apartment community in Davenport, FL

 MIAMI, FL –  JLL Capital Markets has secured a $69.57 million refinancing for Atlantica at Town Center – Phase I, a Class A, 360-unit apartment community in Davenport, Florida.

 

JLL worked on behalf of the borrower, Sovereign Properties and Invest Capital Group, to secure the two-year, floating-rate bridge loan through Timbercreek Capital.

Gregory Nalbandian

Completed in December 2022, the property features 14 three- and four-story residential buildings, comprising of one-, two- and three-bedroom units ranging from 683 square feet to 1,435 square feet, which are some of the largest units in the area. 

Additionally, this garden-style community offers residents numerous sought-after amenities, such as a large resort-style pool, gaming lawn, dog park, pet spa, fitness center, yoga and spin room, demonstration kitchen and coworking space.

Kenny Cutler 

Located at 1121 Loblolly Lane, Atlantica at Town Center offers residents effortless access to a diverse array of cultural and entertainment destinations, including regional shopping centers, Posner Park, Orlando International Airport and Downtown Orlando. 

Furthermore, the property is less than 15 miles away from Walt Disney World and Universal Studios as well as major employers such as Advent Health, Orlando Health, Amazon, FedEx, Darden, Wyndham and Walmart.

Josh Odessky

The JLL Debt Advisory team was led by Senior Managing Director Gregory Nalbandian, Director Kenny Cutler and Director Josh Odessky.

 

“Timbercreek Capital did an exceptional job meeting all of the client’s objectives and understanding this property’s competitive position within the Orlando MSA which is currently experiencing a number of new projects coming online,” stated Nalbandian.

CONTACT:

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877

us.jll.com/capitalmarkets

Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413