JLL Arranges Construction Loan for San Diego-Area Townhomes
- Nov 18, 2020
JLL Capital Markets has secured a $3.5 million loan for the construction of Carlton Oaks Townhomes in Santee, Calif. Director Chris Collins lead the JLL team representing the borrower, Responsible Residential.
The community will comprise two three-story buildings, with three-bedroom units. Averaging at 1,477 square feet, the townhomes will offer two-car garages with electrical vehicle charging available. All units will include washer/dryers and stainless-steel appliances, while some will offer balconies and private patios.
The site is located on the northeast corner of Carlton Oaks Drive and E. Heaney Circle, within a 2-mile radius of central Santee and Gillespie Field Airport. A prominent Costco-, Walmart- and Target-anchored retail cluster is less than a mile away. Downtown San Diego is roughly 20 miles southwest of the parcel.
Earlier this year, JLL arranged construction financing for a 232-unit luxury community in Portland, Ore. Alamo Manhattan is the developer for Block 40 in the South Waterfront District.