Lightstone Capital Grants $29 Million Refinance Loan For 52-Unit Multifamily Property In Oceanside, CA

SALT Oceanside, a 52-unit apartment property located at 371 North Cleveland Street in Oceanside, California, has secured $29 million in refinancing from Lightstone Capital. The property is owned by Pelican Communities and Brooks Street and is situated near Oceanside Pier. The new financing replaces a $21.3 million loan previously provided by PGIM Real Estate in 2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,000,000
• Units: 52
• Lender: Lightstone Capital - David Lichtenstein
• Landlord: Pelican Communities - John Tillotson; Brooks Street
• Loan Type: Refinance

The financing deal for SALT Oceanside was made possible by Lightstone Capital, represented by David Lichtenstein. Pelican Communities and Brooks Street, represented by John Tillotson, were the landlords involved in the transaction.