April 28, 2019
Sunroad Enterprises secured $145 million in construction financing for the development of Centrum Apartments Phase 6, a 442-unit, Class A apartment project in San Diego. HFF worked on behalf of the developer to arrange the floating-rate construction loan through PCCP, LLC.
Centrum Apartments Phase 6 will be the final phase of the 232-acre Centrum Master Plan. Due for completion in late 2020, the five-story, Type 3A residential building will be situated over a three-story, Type 1A parking structure with one subterranean level. The property is situated on 4.5 acres directly west of Phase 5, at the corner of Kearny Villa Road and Lightwave Avenue in the Kearny Mesa submarket.
The HFF debt placement team representing the San Diego-based borrower was led by Aldon Cole and Tim Wright.
For comments, questions or concerns, please contact Dennis Kaiser