**F&F Secures $30M Fannie Mae Loan to Refinance Le Jaime Apartments in San Diego**
KeyBank Real Estate Capital (KBREC) has arranged a $30.387 million fixed-rate loan through Fannie Mae for F&F Properties to refinance Le Jaime Apartments, a multifamily asset in San Diego. The loan features a 10-year term with five years of interest-only payments and will be used to refinance existing KeyBank bridge financing.
Le Jaime Apartments is situated near Pacific Beach, La Jolla, and other vibrant San Diego neighborhoods. The property includes 112 units across 12 buildings separated into four complexes. Each complex comprises 28 units, offering a mix of studio, one-, two-, and three-bedroom floorplans, ranging in size from 300 to 1,085 square feet. The development also includes 50 surface rental parking spaces.
F&F Properties invested approximately $20.1 million in significant capital improvements and the development of Accessory Dwelling Units (ADUs). Taking advantage of current ADU and affordable housing incentives, the firm was able to expand each complex by an additional nine units.
The financing was arranged by John Petersen of KeyBank Real Estate Capital’s Commercial Mortgage Group.
