Sea Breeze Gardens is a 268-unit affordable housing rehabilitation project located at 4888 Logan Avenue in San Diego. This multifamily asset is part of an initiative to enhance community resilience through affordable housing. The property will include a mix of two-bedroom and three-bedroom units, designed to serve households at varying income levels, with specific units allocated for residents with mobility and sensory impairments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $151,000,000
• Address: 4888 Logan Avenue
• Market: San Diego
• Units: 268
• Lender: Freddie Mac
• Landlord: Jeremy Bronfman - Lincoln Avenue Communities
• Broker Representatives: Chris McGraw & Tim Leonhard - Berkadia

Berkadia has facilitated a total of $53.5 million in Low-Income Housing Tax Credit (LIHTC) equity and $97.5 million in Freddie Mac-enhanced bonds for the development. Lincoln Avenue Communities is leading the project, ensuring that Sea Breeze Gardens meets the diverse needs of local families through affordable housing initiatives.