December 6, 2016
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.
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