**CBRE Secures $98M Refinance Loan for San Diego’s Radian Apartments**
CBRE has arranged a $98 million loan to refinance Radian, a 241-unit Class A multifamily property located at 675 Ninth Avenue in downtown San Diego. The deal was facilitated by CBRE Capital Markets’ Debt & Structured Finance team, with Mark McGovern, Scott Peterson, and Morgon Fraser representing the borrower—a joint venture between Cisterra Development and Spruce Capital Group. While the identity of the lender and specific loan terms were not disclosed, the loan is structured as a three-year, fixed-rate, permanent financing.
“Radian exemplifies the next generation of urban living in San Diego,” said McGovern. “Its location, luxury finishes, and amenity-rich environment have made it a standout in the market. Radian has a Walk Score of 99 and close access to public transportation. This refinancing positions the asset for long-term success as downtown San Diego continues to thrive.”
The property offers a mix of one-, two-, and three-bedroom units, including five penthouses. Amenities include a rooftop pool and spa with expansive views of Petco Park, downtown San Diego, and the San Diego Bay. In addition, Radian features a two-story ground-floor retail space, enhancing its urban lifestyle appeal.
