PCCP, LLC has provided a $110 million senior loan to refinance Stanza Little Italy, a Class A, 270-unit, 22-story multifamily community located at 310 A Street in Downtown San Diego, California.
“We believe Stanza Little Italy, a high-quality asset, will perform well as construction activity in Downtown San Diego dissipates,” said Mike Johnson, Managing Director with PCCP.
Stanza offers luxurious studio, one-, and two-bedroom apartments in a central Downtown San Diego location. The property features modern finishes with upscale amenities, including chef-inspired kitchens, granite and quartz countertops, and premium appliances. Residents have access to a resort-style pool deck on the 22nd floor, a 24-hour fitness center with an outdoor terrace, and a fully equipped social lounge. Upper floors at the property provide sweeping views of Downtown San Diego and the waterfront.
Downtown San Diego has one of the strongest renter markets in the country, ranking among the top markets in the country for the percentage of renter households. Within one mile of the Stanza, 91% of residents are renters, with more than 60% of those living within three to five miles also renting, providing a strong renter base for the property.
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $25.3 billion in assets under management on behalf of institutional investors as of December 31, 2024. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 27-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $42.9 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital.
