SAN DIEGO—Holliday Fenoglio Fowler (HFF), hasarranged $42.54 million in development financing forEighteen Ten State St., a 99-unit, class A,multifamily development in the Little Italyneighborhood of San Diego.
Working on behalf of the developer, McMillinCompanies, HFF arranged the participating first mortgagethrough a UBS Asset Management investor accountfor development financing.
Eighteen Ten State St. will be constructed on one of the lastremaining developable sites in Little Italy.
With a Walk Score of 98, the residential buildingwill be steps away from restaurants, shopping, entertainment andthe trolley, train station and COASTER, providing access to therest of downtown, San Diego and Southern California.

Designed by AVRP Studios, the eight-storybuilding will have four levels of subterranean parking totaling 115parking spaces. The building will feature a community center,community decks, and a mix of studio, one- and two-bedroom unitsaveraging 724 square feet each.
HFF's debt placement team representing the borrower was led bysenior managing director Tim Wright and directorZack Holderman. According to HFF, the success ofthe financing speaks to the quality location and capital'swillingness to provide construction financing to qualified sponsorsin strong markets.
Founded in 1960, McMillin has more than 50 years of successful realestate investment, land development, and home buildingprojects. McMilllin continues to evolve to create real estatedevelopments in urban, pedestrian-friendly and coastal constrainedmarkets.
With over 36 years of real estate investment advisory experience,the US real estate business of
UBS Asset Management has approximately $28.8 billion undermanagement on
behalf of over 500 clients. A multi-disciplined real estateorganization with staff of approximately 199, it is headquarteredin Hartford, CT with regional offices inSan Francisco andDallas.