X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.