The development site located at 8333 Clairemont Mesa Boulevard in San Diego was the subject of a $78.5 million construction loan secured by CBRE's Debt and Structured Finance team. The loan was provided for the development of Ion Clairemont, a 251-unit multifamily community in San Diego's Kearny Mesa submarket.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $78,500,000
• Landlord: Augusto Abraham Arriaga - AAA Management
• Brokers: Morgon Fraser, Scott Peterson & William Chiles - CBRE
• Loan Type: Construction Loan
• Loan Terms: Three-year

CBRE's Debt and Structured Finance team in San Diego, led by Bill Chiles, Scott Peterson, and Morgon Fraser, successfully arranged the construction financing for the Ion Clairemont project. This marks the team's second successful financing for AAA Management within six months, following their previous funding for the construction of Ion Aero in the same area.