| Transaction: |
The Mills at Cortez Hill, San Diego, CA |
| Property Type: |
Condominium Conversion (133 units) |
| Structure: |
Mezzanine Loan |
| MF Investment: |
$5,515,000 |
| Date: |
Mar 2004 |
| Borker: |
None |
| Senior Loan: |
$19,725,000 |
| Description: |
MF purchased a 50% participation in a $11 million mezzanine loan being placed by a Wall Street lender, to be used for the recapitalization of this project allowing the developer to buy out the equity interests of his partners and move the conversion forward. The property is located in the Cortez Hill area of downtown San Diego near the central business district and Balboa Park.
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