Dwight REIT Provides $48M Construction Loan to CAST Development
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, closed a $48-million construction loan for GH 25, a planned 114-unit mixed-use multifamily development located in San Diego’s Golden Hill neighborhood. The loan will be used alongside sponsor equity to fund construction, establish an interest reserve and cover transaction costs for the borrowers.
The eight-story project will span 20,000 square feet and feature a mix of studio, one-, and two-bedroom apartments, along with 3,250 square feet of ground-floor retail/commercial space anchored by a restaurant and wine bar concept. GH 25 reflects CAST Development’s “Boutique Automation” strategy, which emphasizes sophisticated design, concrete mid-rise construction and long-term operational efficiency.
Units will offer ceiling heights of up to 10 feet, floor-to-ceiling glass windows and private balconies. Residents will also have access to a seventh-floor amenity terrace with a plunge pool, fire pits, BBQs and lounge areas. The project is slated for completion later this year.
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Lincoln Property Company and McCourt Partners have broken ground for ElevenOneEleven, a new mixed-use development in Culver City. The groundbreaking occurred three weeks after Lincoln and McCourt announced $133 million in construction financing from Bank OZK. Set to rise on a vacant parcel, ElevenOneEleven will deliver 344 rental apartments, including 52 affordable units, along with 2,000 square...
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Logisco Launches $60M Quebec Rental Project With New Brand
Logisco is stripping back the amenity race with a $60M Quebec City apartment development aimed at renters who would rather pay less each month than fund pools, gyms and other extras. The developer has started construction on 193 apartments at 7075 Wilfrid-Hamel Blvd., the first project under its new Elie rental brand. The 10-storey building...
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Virtus Buys Hamilton Retirement Residence For $26M
Virtus Diversified REIT has purchased a 91-suite retirement residence in Hamilton for $26M, expanding its seniors housing portfolio. The acquisition of Abington Court Retirement Residence at 1500 Main St. E. closed Nov. 3. The independent living property opened in 2005 and added 20 suites in a 2018 expansion. Located west of the Red Hill Valley...
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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