Landlord Mark Moshayedi Space Investment Partners PCCP Recapitalizes University Square San Diego For $70M
5821 5975 University Avenue
$70,000,000
$351/SF
Building Size
199,115 SF
Asset Type
Retail
Closing
Jul 28, 2025
AI
University Square is a grocery-anchored retail center in San Diego, totaling 199,115 SF of retail space on 20 acres, located at 5821-5975 University Avenue. The asset's financing comprises a recapitalization with a loan amount of $70,000,000. The property is 98.5% leased to tenants including Food4Less, Marshalls, Crunch Fitness, and Dollar Tree.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $70,000,000
- Asset Type: Retail
- Address: 5821-5975 University Avenue
- Market: San Diego
- Size: 199,115 SF
- Acres: 20
- Landlord/Rep: Mark Moshayedi - Space Investment Partners, PCCP
- Loan Type: Recapitalization
- Date: 07/28/2025
- Tenant mix: Food4Less, Marshalls, Crunch Fitness, Dollar Tree
This paragraph highlights the deal’s key participants: Mark Moshayedi, associated with Space Investment Partners, and PCCP, who were involved in the recapitalization of University Square, a grocery-anchored retail center in San Diego.
Players
San Diego Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93