Slated to rise on Fifth Avenue, between J Street and Island Avenue, the project will be built on one of the last developable parcels here – a site that Champion has actually owned for several year. Upon completion, the development will consist of 120 luxury apartment units, an underground garage with 315 parking spaces and 35,000 sf of restaurant and shops. Designed by Nadel Architects, the project will compliment existing historic structures in the Gaslamp District.

Capri Select Income Fund I has closed on the $10-million mezzanine loan, while Marshall Group's Solana Beach office has provided the first mortgage financing for the project. Bond Capital and George Smith Partners arranged the financing.