April 5, 2019
PCCP, LLC provided a $145 million senior loan to Sunroad Enterprises for the development of Sunroad Centrum Phase 6, a seven-story, 442-unit, Class A multifamily project in San Diego’s Kearny Mesa neighborhood. The property will be the final phase of the 25-acre Centrum master plan, which Sunroad Enterprises developed with more than 800 multifamily units and an 11-story office tower.
PCCP’s Michael Johnson says, “The Kearny Mesa area is well located near a number of employment centers – this combined with the lack of available land for new development and the quality of the planned project – we see this project helping to meet the strong rental demand here.”
The project will feature a 4,200-square-foot two-level fitness center, pool and spa, rooftop bar with grill area and outdoor TVs, business center lounge and conference rooms, wine room with outdoor patio, game room, and pet grooming center.
The financing was arranged by HFF’s Aldon Cole, Tim Wright and Bharat Madan.
For comments, questions or concerns, please contact Dennis Kaiser