Updated Oct 12, 2026
USA Properties Fund Acquires Development Site In La Mesa For $42.8M With KeyBank Community Development Lending & Investment Loan
8181 Allison Avenue, La Mesa, California 91942, United States
$42,800,000
Building Size
—
Asset Type
Development Site
Closing
Jun 1, 2023
About this deal
AI
USA Properties Fund, Inc has secured a construction and bridge loan for a development site located at 8181 Allison Ave in La Mesa. The loan amount from KeyBank Community Development Lending & Investment is $42,800,000. The property is situated in the La Mesa market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $42,800,000
- Lender: KeyBank Community Development Lending & Investment - Jeremiah Drake & Kevin Ruf
- Landlord: USA Properties Fund, Inc - Geoff Brown
- Address: 8181 Allison Ave, La Mesa
Geoff Brown, representing USA Properties Fund, Inc, facilitated the deal as the landlord. Jeremiah Drake and Kevin Ruf, from KeyBank Community Development Lending & Investment, acted as the lenders for the construction and bridge loan associated with the development site.
On the Map
$42,800,000
Development Site
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Players
La Mesa Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93