A joint venture between Murfey Company and Bishop Ventures have secured a $20.5 million loan for the development of the Californian, a luxury residential and retail mixed-use project in San Diego. The funds will refinance an existing construction loan.
The Californian is a 18-unit, the three-story apartment complex totaling 68,141 square feet with 3,137 square feet of ground-floor retail and 108 parking spaces. It features common area amenities, like a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.
An HFF debt placement team represented the borrower. Managing director Bryan Clark, senior managing director Aldon Cole and associate Bharat Madan led the placement team.
This article originally appeared on GlobeSt.com