Santa Fe, NM-based Gemini Rosemont secured $33 million in refinancing for 610 W. Ash St. in San Diego’s Little Italy. The loan, which was financed by Boise, ID-based A10 Capital, was structured with a 10-year maturity, and included a $2-million rollover reserve for tenant improvements.
The 19-story, 177,489-square-foot office asset was acquired last year by Gemini Rosemont for $55 million from an affiliate of New York-based Blackstone Group LP. Built in 1982, the property was nearly 100% occupied at the time of sale to such tenants as cyber security firm ESET and the federal government.
Hong Kong-listed investment company Gemini Investments, backs Gemini Rosemont.
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