On Monday, Thorofare Capital, Inc. announced a $26 million loan provided to Chapman Place LLC for the refinancing and lease-up of Chapman Place Apartments in San Diego’s Point Loma submarket. The borrower, a private investor, will benefit from this floating rate bridge loan as it allows for the leasing and stabilization of occupancy at the newly constructed 82-unit property located at 3910 Chapman St.
Director of Originations Andrew Kim led this transaction with support from associate Paul Hachigian and managing director of credit Jacob Yi in Thorofare’s Los Angeles office. According to Kim, “This high barrier-to-entry submarket boasts a desirable coastal location with strong renter demographics and limited availability of modern luxury apartments in Ocean Beach, Point Loma, and Midway.”
Representing Chapman Place LLC was Kevin M. Heisser (CEO) and Jonathan Fulton (managing partner) from Capital Partners Inc., based in Westlake Village.
The article titled “Thorofare Provides $26M Refi on Newly Built Apartments” was published by Connect CRE.
