San Diego Community Lands $6.2M Refi
- Mar 02, 2018
An HFF team led by Director Chris Collins has secured a $6.2 million loan for VIVO Little Italy, an 18-unit community in San Diego on behalf of the borrower, Valley Development Inc. The seven-year, 4 percent fixed-rate loan was used to refinance the existing construction loan.
Situated in the heart of Little Italy at 1929 Columbia St., the seven-story property features a mix of studio, one- and two-bedroom floor plans, averaging 795 square feet. Completed in 2017, VIVO Little Italy features contemporary finishes, including soft wood accents, custom entertainment closets with shelving, polished quartz countertops and backsplashes, custom cabinetry, energy-efficient LED lighting, laundry closets with washers and dryers, outdoor balconies or patios, and panoramic views.
“Valley Development Inc. benefitted from a competitive process between the commercial banks,” Collins said in prepared remarks. “The success of the financing speaks to the outstanding quality of this asset and its irreplaceable location.”
Photo via Google Street View