PCCP Provides $41M Refi on North Park Multifamily
PCCP has provided a $41-million senior loan to refinance Tenney North Park, a newly constructed, 125-unit multifamily property with ground-floor retail in San Diego’s North Park submarket. The loan was provided on behalf of owner and developer Foulger-Pratt and refinanced an existing construction loan.
Built in 2025, Tenney North Park is an eight-story property located at 2260 El Cajon Blvd. It features 115 market-rate units and 10 affordable units, with studio, one-bedroom and two-bedroom floor plans averaging 727 square feet. The property also includes 3,116 square feet of ground-floor retail and three levels of parking totaling 146 spaces.
Tenney North Park provides residents with proximity to North Park’s 30th Street dining and entertainment corridor, along with access to major employment and lifestyle destinations throughout San Diego, including Downtown San Diego, approximately 10 minutes away; the Hillcrest healthcare cluster, less than 10 minutes away; and UTC/La Jolla, approximately 20 minutes away.
Other News
Gilbane, Strada Development Break Ground on Affordable Tower in Castle Hill/Soundview
City and state officials joined Gilbane, Strada Development LLC and the Center for Urban Community Services (CUCS) to break ground on 1920 Turnbull, a $175-million affordable and supportive housing development located at 1920 Turnbull Ave. in the Castle Hill/Soundview neighborhood of the Bronx. 1920 Turnbull will deliver a 22-story building with 228 affordable rental apartments,...
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Merchants Capital Secures $30M for 227-Unit Indianapolis Multifamily Development
Merchants Capital announced $30.7 million in forward-committed permanent financing for Central at Old Southside, a 227-unit 4% low-income housing tax credit multifamily development to be built in Indianapolis, Indiana, by The Annex Group. Merchants Capital secured a $30.7 million cash-backed Freddie Mac Forward TEL loan for the development. “The addition of more than 200 affordable...
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Essex Realty Group Closes Sale of Rogers Park Apartment Building
Essex Realty Group, LLC, announced the sale of 7319 N. Rogers Avenue, a 16-unit walk-up apartment building located in Chicago’s Rogers Park neighborhood, for $2.46 million. Essex Realty Group Managing Director Rick Ofman represented the seller, while Associate Tim Kavanaugh represented the buyer in the transaction. The property features renovated apartments, supplemental income streams, and...
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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