Updated Oct 23, 2026
PCCP Provides $110 Million Loan To Refinance 270-Unit Multifamily Tower In San Diego
310 A Street
$110,000,000
Units
270
Asset Type
MultiFamily
Closing
Apr 30, 2025
About this deal
AI
A 270-unit multifamily tower located at 310 A Street in Downtown San Diego has secured a refinancing loan. The asset comprises 22 stories and is situated in a market known for its proximity to Little Italy and other key neighborhoods, where 91% of residents are identified as renters.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $110,000,000
- Lender: Mike Johnson - PCCP
- Loan Type: Refinance
- Market: San Diego
The refinancing deal was arranged by Mike Johnson from PCCP, detailing the involvement of the lender in providing the substantial senior loan for the property’s financial strategy. The transaction emphasizes the capital market's support for multifamily assets in urban settings.
On the Map
$110,000,000
MultiFamily
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Players
San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93