May 23, 2019 Comments Off on $21M Financing for Point Loma MXU Development Views: 469 California News, San Diego

$21M Financing for Point Loma MXU Development

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Murfey Company and Bishop Ventures secured $20.5 million in financing for The Californian, a luxury residential and retail mixed-use development in San Diego’s Point Loma submarket. The 10-year, fixed-rate loan was arranged through a commercial bank, with proceeds used to refinance existing construction financing.

The three-story, elevator-served building encompasses 81 residential units totaling 68,141 square feet, 3,137 square feet of ground-floor retail and 108 parking spaces. Completed in 2018 at Kemper Street and Midway Drive, units feature high-end, modern finishes with such common area amenities as a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.

HFF’s debt placement team representing the borrower included Bryan Clark, Aldon Cole and Bharat Madan.

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.

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