City Villas, San Diego, CA

San Diego, CA

Multifamily – Acquisition

City Villas, San Diego, CA

MULTIFAMILY – ACQUISITION

ACRES has acquired a $15 million loan to finance the acquisition of City Villa’s, a 70-unit multifamily property located in San Diego, California.

Situated in the vibrant East Village district of Centre City/Downtown San Diego, City Villas offers an exceptional blend of modern amenities, cultural attractions, and urban convenience. This highly sought-after neighborhood appeals to both residents and investors, enhancing the property’s long-term value.

The development will feature:
• Two five-story apartment buildings
• 8 studio units, 50 one-bedroom/one-bathroom units, and 12 two-bedroom/two-bathroom units
• Above-grade parking and partially subterranean parking in each building

$15 million

Loan Amount

Bridge Loan

Loan Product

“ACRES is grateful for the opportunity to once again provide financing to David and Jordan of Next Wave Investors. As successful and valued repeat sponsors, we look forward to partnering on many more transactions with them in the future.”

- Mark Fogel, ACRES Chief Executive Officer and President

RELATED TRANSACTIONS

2538 Durant Avenue

STUDENT HOUSING - DEVELOPMENT

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MULTIFAMILY - DEVELOPMENT

The Graduate Hotel

HOTEL - REFINANCE

Construction • Bridge • Permanent

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