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Scott Peterson Peterson: “I think this market, too, will transform into something that will be much more lively in the future, with the UTC mall expansion as well as the light-rail Coaster coming up to the mall and the school.”

SAN DIEGO—Life-insurance firms prefer to finance safer assets, and borrowers often get better loan rates from them than they would from the agencies, CBRE SVP Scott Peterson tells GlobeSt.com. The firm’s Capital Markets’ Debt & Structured Finance team recently arranged $145 million in financing for two class-A apartment communities in the UTC submarket here: La Jolla International Gardens, 400 units ($77.5 million loan) and La Scala Apartment Homes, 354 units ($67.5 million loan) on behalf of the developer, the Premiere Residential. The new loans will replace the existing CMBS loans and were funded by Prudential Mortgage Capital Co. We spoke exclusively with Peterson about current apartment financing trends in UTC.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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