ACRES Capital Provides $20.7M Loan For Development Site Acquisition In San Diego

A development site located at 3066 North Park Way in San Diego has recently been involved in a closed property transaction. The transaction took place on January 7, 2021. The site, which is a development opportunity, is owned by Champion Development Partners and represented by George Champion III. The loan for this transaction was provided by ACRES Capital, with Mark Fogel serving as the lender's representative. Matthew Sirianni from Fident Capital acted as the broker in this deal.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $20,700,000
• Units: 94

The individuals and companies involved in this transaction are Matthew Sirianni from Fident Capital, representing the buyer or seller, and Mark Fogel from ACRES Capital, acting as the lender's representative. George Champion III from Champion Development Partners is the landlord in this deal. Together, they successfully completed this closed property transaction.