Property details
San Diego Multifamily and Hotel, Pacific West Region
Property Description
San Diego Multifamily and Hotel
Owner/Developer is seeking $6 million from an equity investor.
The owner is offering 2x money back, $12 million preferred.
Open to discussing other terms, i.e. JV interest.
The Owner has control of a prime 22-acre site.
Plans call for construction of a 200-unit condo and a 100-unit hotel.
The hotel will be flagged by Four Seasons.
Location, Location, Location: Apple has plans to build a nearby 5,000 employee office building.
Directly across the street from this site, the city is developing a 100-acre recreational plan that will have swimming pools, tennis courts, bike paths and a large number of recreational activities.
Nearby Casino is also a major dr
With the equity investment, the owner will take over land (currently under contract at well below the asking price), complete all of the entitlements and finish the project.
The Owner will obtain a $85 million construction loan which will be no problem to obtain, per the owner.
Estimated gross profit once the hotel is built and the condos are sold: $100 million.
Timeline: This is a 3-year project that is estimated to take 1 year for the entitlements then 2 years for construction.
Hotel Development Sites
Images
Highlights
- Status:
- Available
- Price:
- $6,000,000
Property Information
- Property Type:
- Equity Investment
- Industry Type:
- Apartment - Multifamily
- Units/Spaces:
- 300
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.