Lightstone Capital Originates Senior Loans for Two San Diego Multifamily Properties
Lightstone Capital, Lightstone’s real estate debt platform, recently closed three originations totaling $70 million across California and Texas. The financings include two multifamily communities in the San Diego region and an industrial property in the greater Houston logistics corridor.
In California, Lightstone Capital originated a senior loan for Kaya Apartments, a 78-unit multifamily community at 2700 Third Ave. in San Diego’s Bankers Hill neighborhood. The company also originated a senior loan for The Flats at TerraMar, located at 5010 Avenida Encinas in Carlsbad. The project is set to convert a former Studio 6 hotel into a 98-unit apartment community, including 15 affordable units
In Texas, Lightstone Capital originated a senior loan for the acquisition of an industrial asset located at 300 S. Sheldon Rd. in Channelview, just east of Houston. John Zubak, managing director and head of origination, Western Region, led both California deals, while the Channelview industrial financing was led by Elias Haddad, director of the Central Region.
If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout