December 6, 2016 Comments Off on Loft2015 MF Trades Hands for $28M Views: 360 California News, San Diego, West

Loft2015 MF Trades Hands for $28M

Los Angeles-based James Investment Partners acquired Loft2015 Apartments, an 85-unit, multifamily property in San Diego from an undisclosed San Francisco-based entity for $28 million.

Built in 2011, Loft2015 offers one and two-bedroom floor plans. Amenities include floor-to-ceiling windows, stainless steel appliances and in-unit washers and dryers. The property is located at 2015 Hancock St. in San Diego’s North Little Italy neighborhood.

NorthMarq Capital’s Michael Elmore and David Blum arranged $17.3 million in acquisition financing for the borrower, through its Fannie Mae platform. The acquisition financing was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule.

Berkadia’s Ed Rosen and John Chu, Kyle Pinkalla and Erin Dammen and Tyler Sinks handled the sales transaction.

Connect With NorthMarq’s Elmore

Connect With Berkadia’s Rosen

For comments, questions or concerns, please contact Dennis Kaiser

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