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KKR Provides $188M Loan For Vive Luxe Multifamily Community In San Diego Represented By JLL

Property Image
FINANCED
$188,000,000
Aldon Cole
Tim Wright
Bharat Madan

California

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MultiFamily
Financed 01/13/2025
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FINANCED

KKR Provides $188M Loan For Vive Luxe Multifamily Community In San Diego Represented By JLL

4890 Sunroad Centrum Lane

See Similar Deals
MultiFamily
Financed 01/13/2025
Aldon Cole
Tim Wright
Bharat Madan
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The transaction involves a multifamily asset located at 4890 Sunroad Centrum Lane in San Diego, comprising 442 units. The property, known as Vive Luxe, was built in 2021 and has over 95% occupancy. It includes luxury amenities as well as 23 affordable units, and the loan amount secured for this property is $188,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $188,000,000
  • Market: San Diego
  • Lender: KKR
  • Landlord: Aaron Feldman - Sunroad Enterprises
  • Brokerage Firm: JLL
  • Brokers Involved: Aldon Cole, Bharat Madan & Tim Wright
  • Loan Terms: five-year, fixed-rate
  • Units: 442
  • Occupancy Rate: over 95%
  • Affordability: 23 affordable units

JLL Capital Markets represented Sunroad Enterprises in securing the loan through KKR-managed accounts, facilitating the financial arrangement for the multifamily community.

Players

Tim Wright
JLL
Tim Wright
9 deals$2.4B volume
BROKER
Bharat Madan
JLL
Bharat Madan
9 deals$1.9B volume
BROKER
Aldon Cole
JLL
Aldon Cole
15 deals$2.3B volume
BROKER
KKR
KKR
LENDER

Details

FINANCED
IMAGE: Aaron Feldman, Aldon Cole, Bharat Madan & Tim Wright DATE: 01/13/2025 ADDRESS: 4890 Sunroad Centrum Lane MARKET: San Diego ASSET TYPE: Multifamily ~ UNITS: 442 LENDER: KKR (@KKR_Co) LANDLORD: Aaron Feldman - Sunroad Enterprises BROKERS: Aldon Cole, Bharat Madan & Tim Wright - JLL (@JLL) LOAN AMOUNT: $188,000,000 LOAN TERMS: five-year, fixed-rate NOTE: JLL Capital Markets secured a $188M loan for Vive Luxe, a 442-unit Class-A multifamily community in San Diego, on behalf of borrower Sunroad Enterprises through KKR-managed accounts. The 2021-built property, with over 95% occupancy, features luxury amenities and 23 affordable units.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$188,000,000.00

Monthly NOI$1,253,333.33
Monthly Debt Service$1,188,287.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00