$34,000,000
San Diego, CA
Transaction Type
Acquisition
Non-Recourse
Loan Type
Permanent Loan
Situation & Challenges
- Borrowing entity was a Delaware Statutory Trust (DST)
- Property was on a ground lease
- Construction loan take-out
Solutions & Highlights
- Property was well located in the Gas Lamp District in downtown San Diego
- Sponsor was a repeat borrower of A10 and had extensive experience with multi-family assets
- 10-year, fixed-rate loan term; 30-year amortization with 5-years interest only