28 Aug 2017

CoStar SD Commercial Real Estate News

San Diego Commercial Real Estate News From CoStar Group

Apartment Owner Obtains $40.5M in Refinancing

Jan 12 2018

The San Diego-based owner of two apartment properties totaling 440 units in Escondido, CA and Las Vegas, NV has obtained a total of $40.5 million in refinancing.

A statement from NorthMarq Capital, which arranged the financing, said separate seven-year, fixed-rate loans were obtained on the properties, which share common principals.

The financial services firm arranged $24.5 million in refinancing for the 184-unit Forest Glen Apartments at…

Regency Centers Expands San Diego Retail Footprint

Jan 11 2018

Regency Centers is planning a $230 million redevelopment of its Costa Verde Center in San Diego’s University Town Center neighborhood. Credit: Regency Centers Corp.
Florida-based Regency Centers Corp. continues to grow its San Diego retail profile, witnessed by its recent acquisition of Scripps Ranch Marketplace — bringing its local shopping center holdings to 11 — and its planning for a $230 million redevelopment of its Costa Verde Center in University…

Sunroad Gets $165M in Refinancing on Apartments

Jan 9 2018

San Diego-based developer Sunroad Enterprises, Inc. has secured $165 million in refinancing on two recently-built luxury multifamily complexes totaling 555 units in the city’s Kearny Mesa neighborhood.

Mesa West Capital of Los Angeles originated the short-term mortgage debt, with Mesa West holding the $145 million A-note and New York-based Clarion Partners holding the $20 million B-note.

Tim Wright and Aldon Cole with HFF’s San Diego office…

SD Developer Obtains $36.6M for Downtown Hotel Project

Jan 8 2018

Developer Oram Hotels has obtained $36.55 million in construction financing for its ongoing renovation of a historic downtown San Diego, CA building into what will open in 2019 as a 163-room, upscale boutique hotel known as The Guild San Diego.

The seven-story building, at 500 W. Broadway, was acquired by locally-based Oram Hotels in 2014 for $14 million, according to CoStar data. It housed the city’s downtown YMCA for 90 years before the facility…

Mission Valley Hotel Sells for $19.5M

Jan 8 2018

An affiliate of Cerritos, CA-based Kamla Hotels has purchased the169-room La Quinta Inn & Suites hotel in San Diego’s Mission Valley submarket for $19.5 million, or about $115,000 per room.

The sale of the property at 641 Camino Del Rio S. marks the second local sale in recent weeks by affiliates of San Diego-based Pinnacle Hotels USA, Inc.

In mid-December, Pinnacle sold the 178-room Radisson Hotel in San Diego’s Rancho Bernardo neighborhood…

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