CEDARst Snags $80M Construction Loan for San Diego Apartments
CEDARst obtained an $80 million construction financing for The Samuel, a 197-unit Class A multifamily development in San Diego’s North Park neighborhood.
JLL worked on behalf of the CEDARst Companies, in arranging the three-year, floating-rate loan through CrossHarbor Capital Partners.
The Samuel will be located at 2821 Adams Ave. in North Park. The eight-story development will feature 82 studios, 93 one- and 22 two-bedroom units, averaging 621 square feet, with 189 parking spaces.
The development will include amenities such as a pool, fitness center, co-working lounge, fire pits, game deck and a rooftop sunset lounge with an outdoor kitchen. Construction is expected to begin in Q3 2026, with completion anticipated in Q4 2028.
JLL Capital Market’s Debt Advisory team was led by Senior Director Zach Kersten, Director Jack Wood and Analyst Ben Choromanski.
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Gilbane Development Acquires Sheepshead Bay Site Suited to Large-Scale Affordable Housing
Ariel Property Advisors has arranged the $37-million sale of 2185 Coyle St., a mixed-use development site offering 408,400 buildable square feet on a 96,000-square-foot lot in the Sheepshead Bay neighborhood of Brooklyn. The recently rezoned property is ideally suited for a large-scale affordable housing development. An Ariel team comprised of founding partners Victor Sozio and...
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JV Acquires Seniors Facility in San Diego’s Clairemont Neighborhood
Marcus & Millichap arranged the sale of Canyon Villas, a 122-unit, 122-operating bed, independent living, assisted living and memory care facility with 133 licensed beds in the Clairemont neighborhood of San Diego. Pricing was not disclosed. “Our marketing process on Canyon Villas generated multiple high-quality offers and provided the buyer with a compelling value-add opportunity...
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SJP Partnership Tops Out Construction on Jersey City Apartments
SJP Properties, in partnership with Claremont Development and Battery Global Advisors, announced that The Lucy, a new luxury residential tower, has topped out. Located at 619 Grove St. in Jersey City, the residential community includes 444 apartments and a full suite of amenities. The design preserves and restores historically significant portions of the site’s original...
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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