JLL Secures Loan for San Diego Condominium Project
The company worked on behalf of the developer to arrange $15 million in financing for the 16-unit property.
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JLL has arranged $15.1 million in financing for the development of Palatine Bankers Hill, a 16-unit luxury condominium project in San Diego. The firm worked on behalf of the developer, INI Greenfield, to secure the one-year, floating-rate construction loan through a New York City-based debt fund. The development is slated for completion by early 2020.
Situated at 2750 Fourth Ave., the project is in the Bankers Hill/Park West neighborhood, merely 1 mile from downtown San Diego. Additionally, the development is around two blocks west of the historic Balboa Park and 3 miles from the San Diego International Airport.
Once completed, the five-story condominium will feature two-, three- and four-bedroom units, ranging from 1,608 to 3,390 square feet. The units will feature high-end finishes, such as Turkish stone tile and hardwood flooring, quartzite countertops, sustainable wood cabinetry, Miele appliances and keyless entry. Property amenities include electric car charging stations.
JLL’s Capital Markets team included Director Chris Collins and Analyst Brad Vansant. Earlier this week, the company also secured a $14.7 million refinancing for an 81-unit Denver community.
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