Updated Feb 17, 2025
Baseline Partners Provides $3.7 Million Bridge Loan For Development Site In San Diego
Ohio Street
$3,700,000
$264/SF
Building Size
14,000 SF
Asset Type
Development Site
Closing
Feb 11, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 4120-4124 Ohio Street and 4127-4131 30th Street in the San Diego market. The site features a building square footage of 14,000 and a buildable square footage of 86,000. The loan amount secured for this development site is $3,700,000, classified as a bridge land loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,700,000
- Lender: Baseline Partners
- Brokers: Frankie Paparella & Alex Walsh - Convoy Capital
- Date: 02/11/2025
Frankie Paparella and Alex Walsh from Convoy Capital represented the deal, facilitating the financing arrangements for the development site. Their expertise in the San Diego market contributes to the effective navigation of such transactions.
On the Map
$3,700,000
$264/SF
Development Site
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Players
San Diego 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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93