Northmarq’s Debt + Equity team arranges $148.5M financing for 800 Broadway high-rise apartments in San Diego, CA
SAN DIEGO (April 21, 2025) — Northmarq’s Debt + Equity team led by James Currell, Joel Heikenfeld and Barry Gersten successfully arranged the $148.5 million external refinancing for 800 Broadway, a 389-unit high-rise apartment community at 800 Broadway in San Diego, California.
Northmarq arranged the bridge loan on behalf of the borrower, an affiliate of Diamond Realty Investments, Inc., through a correspondent relationship with Affinius Capital. The transaction was structured on a three-year term.
“The lender was able to win in a very competitive process and provide a structure that worked for the client within their fund structure, where the property still had construction completion and had just started leasing. One of the features of this execution was a spread reduction upon an occupancy threshold on this trophy asset in Downtown San Diego. We are pleased with the execution and glad to be able to close during a period of heightened market volatility,” said Currell.
Located in downtown San Diego just blocks from the Gaslamp Quarter, 800 Broadway is a 40-story residential tower featuring studios, 1-2 bedroom apartments and 2-3 bedroom penthouses. Built in 2023, the community features unmatched views of San Diego and the Pacific Ocean. It is LEED Gold Certified, showcasing a commitment to sustainability and environmentally-conscious living.
Apartments feature patio or balcony options, nine-foot ceilings, in-unit washer/dryer, quartz countertops, undercabinet lighting, pendant island lights, and luxury vinyl and tile flooring.
The 800 Broadway community amenities include a speakeasy, rooftop deck swimming pool and hot tub, outdoor lounge, firepits, grilling stations, a sky lounge, coworking and business center, TV lounge and games, fitness center and yoga studio, pet spa and dog walk, and electric car charging stations.
Just steps from nightlife and downtown’s energy, 800 Broadway is nearby restaurants, coffee options, shopping and recreation. It boasts high walkability, biking and transit opportunities, and it is within close proximity of access to Interstate 5 as well as the San Diego International Airport.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.