Sunroad Enterprises refinanced two, Class A multi-housing properties totaling 803 units within the 232-acre Centrum Master Plan in San Diego’s Kearny Mesa submarket. JLL worked on behalf of the borrower to arrange the 10-year, fixed-rate $222.5-million loan.

The portfolio comprises the newest apartment developments in the Kearny Mesa submarket, Ariva Apartments and Vive on the Park (pictured). The 253-unit Ariva was completed in 2014, and consists of two podium-style buildings, each with four stories over a two-story podium garage and separated by a two-acre park. Vive is a 550-unit, mid-rise apartment complex consisting of five stories that was constructed in two phases in 2017 and 2019.

JLL’s Aldon Cole, Tim Wright and Bharat Madan represented Sunroad.

Cole says, “Sunroad’s long-term vision on providing housing in a central San Diego market that had historically been overlooked is a testimony to their understanding of what the San Diego housing market needs.”