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Cisterra Development, Koman Group, And Wermers Companies Secure $96M Loan For Mixed-use Property On 9th Avenue, San Diego

659 9th Avenue
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This Mixed-use property located in CA received a loan of $96,000,000 almost 3 years ago. The broker of the deal was Mark McGovern

A loan of $96,000,000 was secured for the mixed-use property located at 659 9th Avenue in San Diego. The property spans 255,000 square feet and is owned by Cisterra Development, Koman Group, and Wermers Companies. ACORE Capital provided the loan, with Kyle Jeffers representing the lender.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $96,000,000
  • Address: 659 9th Avenue, San Diego
  • Market: San Diego
  • Lender: ACORE Capital - Kyle Jeffers
  • Landlord: Cisterra Development - Steven L. Black, Koman Group - Bill Koman & Wermers Companies
  • SF: 255,000

Mark McGovern of CBRE served as the broker in this transaction.

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Deals
  • Location
    659 9th Avenue, San Diego, CA, USA659 9th Avenue, San Diego, CA, USA
  • Loan Value
    $96,000,000$96,000,000
  • Asset Type
    Mixed-useMixed-use
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Mark McGovern

Mark McGovern

Deals1
Financed$96M

Agency

CBRE

CBRE

Agency
Deals4231
Volume$184.3B

Acore Capital

Acore Capital

Lender
Deals33
Volume$ 724.6B

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Deal Summary

LOAN IMAGE: Mark McGovern, Kyle Jeffers, Steven L. Black & Bill Koman DATE: 05/10/2021 ADDRESS: 659 9th Avenue MARKET: San Diego ASSET TYPE: Mixed-use LENDER: ACORE Capital - Kyle Jeffers LANDLORD: Cisterra Development - Steven L. Black, Koman Group - Bill Koman & Wermers Companies BROKER: Mark McGovern - CBRE LOAN AMOUNT: $96,000,000 SF: 255,000

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659 9th Avenue

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