$5.11M refinancing secured for newly renovated San Diego multi-housing community
JLL Capital Markets led the financing efforts for 330 S. Home St. in Oceanside, California
SAN DIEGO, May 28, 2024 – JLL Capital Markets announced today that it has arranged a $5.11 million refinancing for 330 S. Home St., a 21-unit multi-housing community in Oceanside, California.
JLL worked on behalf of the borrower, a joint venture between Westview Real Estate, led by Rob Perkins and Pace Properties, led by Matt Pace, to secure the three-year, fixed-rate loan through a regional bank.
The property is approximately 30 miles north of Downtown San Diego in the North County submarket and has easy access to the San Diego Freeway and State Highway 78, as well as a nearby Amtrak station providing access to all of greater Southern California. For residents that enjoy the coastal lifestyle, 330 S. Home St. is less than one mile from the beach and close to numerous restaurants, retail amenities, the Oceanside Pier and outdoor activities such as surfing, biking, hiking, boating and more.
The property consists of 17 original units that were built in 1970 and renovated in 2023, as well as four newly constructed accessory dwelling units. Parking is available on-site and includes eight garage spaces. Individual units average 715 square feet each and feature new kitchens with modern appliances and renovated bathrooms with high-end fixtures. On-site amenities include a surf shower, secure electric bike parking, common area grill and LA-inspired artwork featured throughout the community.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Chris Collins and Analyst Emily Pohlman.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Pace Properties
Founded in 2015, Pace Properties has acquired and renovated more than $40 million in assets to date.