HFF Arranges $12.5 M in Permanent Financing for New San Diego Mixed-Use Project
- Feb 23, 2016
San Diego – Jonathan Segal FAIA & Development Company recently received $12.5 million in permanent financing for its newly completed mixed-use development at at 3752 Park Blvd. in Hillcrest. The 15-year, 4.52 percent, fixed-rate loan with five years interest only was sourced by HFF through Aegon USA Realty Advisors, one of the provider’s correspondent life company lenders. A team led by HFF Senior Managing Director Aldon Cole represented the borrower during the debt placement process.
Known as Mr. Robinson, the mixed-use project is located at the corner of Park Boulevard and Robinson Avenue, along a transit corridor to San Diego’s Hillcrest and North Park neighborhoods. The project was completed earlier this year and consists of 36 luxury residential units, two ground floor retail units, as well as a parking garage. The 42,923-square-foot building is just two blocks north of the city’s downtown area, and offers proximity to the nearby Cabrillo Freeway.
The unit mix consists of lofts, two- and three-bedroom apartments, as well as penthouses. The average size of a residential unit is 1,080 square feet of space. The property has already enlisted TRUST Restaurant as its first commercial tenant, with one commercial suite still up for grabs.