Affinius Capital LLC today announced the closing of a $148.5 million loan to refinance 800 Broadway, a newly-built, Class A, high-rise multifamily property featuring 389 units and 4,830 square feet of commercial space in San Diego, CA. The loan was made to an affiliate of Diamond Realty Investments, Inc.
Affinius Capital Managing Director Tom Burns commented, “800 Broadway represents an exciting and newly-built multifamily development in Downtown San Diego offering exceptional views and walkability to nearby commercial and retail amenities. This is Affinius Capital’s first transaction with Diamond Realty Investments and we look forward to expanding the relationship further.”
The 40-story 800 Broadway’s 389 units are comprised of 356 market rate and 33 affordable units, from studios and one-two bedroom apartments to two-three bedroom penthouses. The apartments offer premium finishes including private patios/balconies, Whirlpool stainless steel appliances, 9-foot ceilings, in-unit washer and dryers, quartz countertops, frameless glass showers and porcelain tubs, modular closet shelving, luxury vinyl and tile flooring, gas stoves, undercabinet lighting, and pendant island lighting.
The LEED Gold Certified building features resort-style amenities including a rooftop deck with swimming pool and hot tub, speakeasy bar, outdoor lounge with fire pits and grilling stations, clubroom, co-working space and business center, TV and game lounge, fitness center with yoga studio, pet spa and dog walk, bike storage and repair station, EV charging stations, and a 24-hour concierge.
Situated at the intersection of the Gaslamp Quarter and East Village neighborhoods, the property offers excellent access to public transit, Interstate 5, and San Diego International Airport. The Downtown San Diego submarket is known for its vibrant, pedestrian-friendly atmosphere featuring an array of restaurants, nightlife, retail shops, and employment centers.
The financing was arranged by a Northmarq team led by James Currell.
About Affinius Capital LLC
Affinius Capital® is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $64 billion in gross assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
