AV8, a mixed-use residential, retail site in Little Italy. Photo credit: Courtesy, CBRE

An affiliate of a San Diego management firm received a $43 million loan to purchase a 129-unit multifamily, mixed-use property in Little Italy, officials said.

The 10-year loan, from a major life insurance company, was arranged on behalf of the buyer, AV8 Investors LLC, part of San Diego-based property management firm R&V Management.

Located at 2175 Kettner, AV8 was originally constructed in 2018, with approximately 96% of its units occupied at the time of sale.

Amenities include rooftop cabanas, a clubroom with televisions, and a 24-hour fitness center. The six-story building features nearly 7,800 square feet of ground-floor retail space.

The building, within one mile of San Diego International Airport, sits across from 2100 Kettner, a 225,000 square-foot, mixed-use office development.

Bill Chiles, Scott Peterson and Brian Cruz of CBRE’s Capital Markets’ Debt & Structured Finance team out of San Diego, arranged the loan.

“This is one of the premier luxury multifamily communities in San Diego, located in one of the city’s most vibrant neighborhoods in Little Italy,” Peterson said.

–  Staff reports

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