Greenline Development Group Secures $16.55M Construction Loan For 69-Unit Multifamily In San Diego

The property asset involved in this transaction is a multifamily unit located at 3729 10th Avenue, San Diego. This property consists of 69 units and encompasses a total square footage of 44,475. The loan amount secured for this asset is $16,550,000 with a loan type categorized as construction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,550,000
• Address: 3729 10th Avenue
• Market: San Diego
• Units: 69
• Square Footage: 44,475
• Lender: Larry Grantham & Zachary Novatt - Calmwater Capital
• Landlord: Adam Greenberg & Gilad Tamir - Greenline Development Group
• Broker: Jason Moyal - Max Benjamin Partners
• NOTE: Calmwater stepped in after the original lender pulled out of the deal within a week of the scheduled close and was able to get this across the finish line in 29 days.

The transaction includes key individuals such as lenders Larry Grantham and Zachary Novatt representing Calmwater Capital. The landlord side is represented by Adam Greenberg and Gilad Tamir of Greenline Development Group, while Jason Moyal from Max Benjamin Partners acts as the broker in this deal.