FINANCEDMultiFamily
Eugene Rozovsky Of Lightstone Capital Provides $34.25 Million Loan For Kaya Apartments In San Diego
2700 Third Avenue
$34,250,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 24, 2026
AI
The Kaya Apartments is a newly completed multifamily asset located at 2700 Third Avenue in San Diego, CA. This property consists of 78 units and is situated in the Bankers Hill neighborhood. The asset includes amenities such as coworking space, a community lounge, a shared kitchen, and an on-site café. The property is fully leased.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $34,250,000
- Lender: Eugene Rozovsky - Lightstone Capital
- Landlord: Jeff Svitak
- Originator: John Zubak - Lightstone Capital
- Loan Type: Bridge
Eugene Rozovsky and John Zubak of Lightstone Capital were instrumental in securing financing for this project. Lightstone Capital provided a $34.25 million senior bridge loan to developer Jeff Svitak for the multifamily property, which opened last year.
Players
Tall Timbers 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93