X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHANDLER, AZ-CBRE San Diego‘s debt and equity finance group has arranged a $47.3-milllion on behalf of the Premiere Residential for the refinancing of San Cervantes Apartments, a 376-unit, class-A, luxury rental community at 400 N. Coronado St. here. The firm secured a 10-year loan through Freddie Mac with a 3.72% fixed rate and 70% loan-to-value ratio.

Built in 2001, San Cervantes is adjacent to Chandler Fashion Center regional mall and features a resort-style swimming pool with a sand beach area and poolside cabanas, spas, saunas, tennis and volleyball courts, an all-hours fitness center and a clubhouse overlooking fountains. According to CBRE’s Barry Petro, who arranged the transaction, the community is a typical example of the borrower’s properties.

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?

GlobeSt. APARTMENTS Fall 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.