PCCP lends $41M to refinance Foulger-Pratt's San Diego apartments
The senior loan replaces construction debt on Tenney North Park, a 125-unit building completed in 2025.
At a glance
PCCP has provided a $41 million senior loan to refinance Tenney North Park, a 125-unit apartment property in San Diego's North Park submarket, Connect CRE reported.
Completed in 2025, the eight-story building at 2260 El Cajon Blvd. contains 115 market-rate apartments and 10 affordable units in studio, one- and two-bedroom layouts averaging 727 square feet.
The loan works out to roughly $328,000 per unit; Connect CRE did not report the loan's term, rate or the property's occupancy.
PCCP has provided a $41 million senior loan to refinance Tenney North Park, a 125-unit apartment property in San Diego's North Park submarket, Connect CRE reported. The loan was made on behalf of owner and developer Foulger-Pratt and replaced an existing construction loan.
Completed in 2025, the eight-story building at 2260 El Cajon Blvd. contains 115 market-rate apartments and 10 affordable units in studio, one- and two-bedroom layouts averaging 727 square feet. It also has 3,116 square feet of ground-floor retail and 146 parking spaces across three levels. Connect CRE put downtown San Diego about 10 minutes away, the Hillcrest medical district inside 10 minutes and UTC/La Jolla roughly 20 minutes.
The loan works out to roughly $328,000 per unit; Connect CRE did not report the loan's term, rate or the property's occupancy.
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