In May of 2021, Emerald Creek Capital provided a $7,500,000 bridge loan in the Bankers Hill neighborhood of San Diego, CA. The loan is secured by a newly constructed, 9-unit apartment building with 24,300 square feet of gross building area situated on a 5,092 square foot site. The units range from two bedrooms to six bedrooms and there are 19 parking spaces below grade. The building features private balconies and high-end finishes, in addition to a common rooftop with sweeping views of the city and San Diego Bay. Bankers Hill is an affluent, primarily residential neighborhood with a commercial district of trendy restaurants and boutiques. The subject property is within walking distance of the San Diego Bay waterfront and sits directly adjacent to Balboa Park, a sprawling 1,200-acre park, home to many gardens, golf courses, 17 museums, and the world-famous San Diego Zoo.
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