For more retail coverage, click

SAN DIEGO–Downtown’s renaissance continues. Petco Park has literally put people in seats and brought much foot traffic to the area’s boutiques and eateries. There’s also been a resurgence in Downtown housing. Perhaps no single project looms larger than Vantage Pointe, the 41-story project has landed financing, a $210-million, three-year construction loan at 85% of cost over Libor.LJ Melody & Co., the real estate investment banking division of CB Richard Ellis, arranged financing for the project, which is set for a completion date of late 2007. At build-out, Vantage Pointe will count more than 1.1 million sf and include 673 condo units. Also on tap for the project is 32,000 sf of ground-level retail space. Craig M. Mueller, director, of LJ Melody’s Newport Beach office secured the funding for this transaction. CDPQ Mortgage Corp. provided the financing on behalf of the borrower.Vantage Pointe is the jewel of Calgary-based Point of View Developments. The Canadian developer has numerous projects underway in Canada and the US, including Pacific Pointe, the 36-floor twin tower project located at Broadway and 11th Avenue in San Diego. That project will offer 450 suites, with the main floor available for commercial/retail.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.