CoStar SD Commercial Real Estate News
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…
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…
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…
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…
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…