March 1, 2017
A San Diego-based development team secured $12.7 million in construction financing for the development of Driftwood, a mixed-use residential and retail property in San Diego. The project is planned to include 81 luxury residential units, and more than 3,000 square feet of retail.
Driftwood will be situated on a two-acre lot at the corner of Kemper and Kenyon in the Point Loma/Midway district. The project features stacked flats within a three-story, elevator-serviced building, with interior common hallways and stairwells.
HFF’s Aldon Cole, Bryan Clark and Chris Collins worked arranged the financing on behalf of the developer, K&K Veritas LP, an affiliate of Veritas Urban Properties and Bishop & Company. HFF placed the two-year construction loan with Pacific Western Bank.
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