Downtown San Diego Community Gets $110M Refi
The 270-unit property was built in 2021.
Stanza Little Italy, a Class A, 270-unit multifamily property in downtown San Diego, Calif., has been refinanced with a $110 million senior loan provided by PCCP.
Details about the loan were not disclosed. The Hanover Co. is listed as the most recent owner of the 22-story asset, located at 310 A. St., according to Yardi Matrix. The refinancing replaces a $126.1 million loan provided by Wells Fargo in March 2022, the same source reported.
Completed in 2021, Stanza is 95.6 percent occupied. The property has a mix of studio, one- and two-bedroom apartments and several one- and two-bedroom penthouses. The studios to two-bedroom units range in size from 421 square feet to 1,418 square feet, with rents between $2,721 to $6,165. The penthouses range from 694 square feet to 945 square feet for the one-bedroom floorplans and 1,220 square feet to 2,062 for the two-bedroom penthouse apartments. Rents for the one-bedroom penthouse units range from $3,744 to $5,379 while the two-bedroom penthouses go for $6,708 to $10,694, the same source shows.
Stanza unit interiors feature modern finishes with amenities including chef-inspired kitchens in addition to granite and quartz countertops. All units have washers and dryers, while select apartments have private balconies or patios.
Amenities highlighted
Stanza Little Italy has 18 floors of apartments over three levels of parking, alongside 4,607 square feet of retail space. On the 22nd floor, residents have access to a resort-style pool, a fitness center with an outdoor terrace and social lounge. The upper floors of the property have views of downtown San Diego and the waterfront.
READ ALSO: San Diego Multifamily Report – February 2025
The building has a total of 395 parking spaces. Covered parking with electric vehicle charging stations is offered for an additional fee.
Stanza is transit-oriented property located within a quarter mile of two stations. The property is a few blocks away from popular neighborhoods such as Little Italy, the Gaslamp Quarter, and the Marina District, which have a variety of shopping and entertainment options.
PCCP activity
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. The firm, which has offices in New York, San Francisco, Atlanta and Los Angeles, has $25.3 billion in assets under management on behalf of institutional investors.
In recent months, PCCP has made numerous investments in build-to-rent homes in Florida and Georgia. Last month, a joint venture between PCCP and Advenir Azora announced plans to build Leo at Port Wentworth, a 250-unit BTR Class A community in Port Wentworth, Ga., near Savannah, Ga. The first units at the cottage- and townhome-style-department are slated for completion in June 2026.
In February, PCCP and Balcara Group teamed up to begin development of Balcara at Southshore Bay, a 196-unit single-family-for-rent community in Wimauma, Fla., near Tampa, Fla. Lennar is the builder for the 35.4-acreproject and expects to deliver the first set of buildings in August.
