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2700 Third Avenue

Eugene Rozovsky Of Lightstone Capital Provides $34.25 Million Loan For Kaya Apartments In San Diego
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

Eugene Rozovsky

Lightstone Capital

Broker

$49M

vol

2 deals

Broker
Eugene Rozovsky

Eugene Rozovsky

Lightstone Group

Lender

$49M

vol

2 deals

Lender

Jeff Svitak

Landlord
Landlord
Lightstone Group
Lightstone GroupOriginator

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