Affinius Capital LLC closed on a $120-million loan to refinance Elowen, a Class A, 7-story, 302-unit multifamily property located in the Kearny Mesa neighborhood of San Diego. The loan was made to AAA Management and was arranged by JLL’s Bryan Clark.
“The Kearny Mesa submarket has demonstrated consistent renter demand, and Elowen is exactly the kind of asset we look to finance,” said Affinius executive director Perry Katz. “As San Diego’s new supply pipeline begins to taper, well-located properties like this one are positioned to perform. We look forward to working with AAA Management and leveraging their regional expertise.”
Elowen is a luxury apartment building offering 60 studios, 128 one-bedrooms, 94 two-bedrooms, and 20 three-bedrooms. Residences feature quartz countertops, stainless steel appliances, European soft-close cabinetry, luxury vinyl plank flooring and in-unit washers and dryers. Community amenities range from two landscaped courtyards to a sky lounge with mountain and airport views..
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