The development site at 1150 Fashion Valley Road in San Diego encompasses 200 acres. The project is part of the Riverwalk San Diego initiative, which has a total projected cost of $4 billion. This site will include multiple residential and commercial components in its first phase, such as 721 apartments, 75,000 square feet of grocery-anchored retail space, a 190-unit affordable housing complex, and a new trolley station.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $380,000,000
• Lender: Aram Zakian - Bank OZK; Related Fund Management
• Landlords: Jeffrey C. Hines & Laura Hines-Pierce - Hines; Len O'Donnell - Affinius Capital
• Loan Type: Senior & Mezzanine

Hines and equity partner Affinius Capital initiated the Riverwalk San Diego project following the successful acquisition of $380 million in construction financing, with $278 million sourced from Bank OZK and $102 million from Related Fund Management. The project's completion is anticipated for spring 2029, representing a significant development in Mission Valley.