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Lightstone Capital closes $70M in CRE senior loan originations
The deals include a 78-unit Bankers Hill multifamily loan and a planned conversion of a former Studio 6 hotel into a 98-unit community.
Lightstone Capital, Lightstone’s real estate debt platform, has closed three senior loan originations totaling $70 million across California and Texas, ConnectCRE reports.
In California, the company originated a senior loan for Kaya Apartments, a 78-unit multifamily community at 2700 Third Ave. in San Diego’s Bankers Hill neighborhood. It also originated a senior loan for The Flats at TerraMar at 5010 Avenida Encinas in Carlsbad, a project to convert a former Studio 6 hotel into a 98-unit apartment community that includes 15 affordable units.
In Texas, Lightstone Capital originated a senior loan for the acquisition of an industrial asset at 300 S. Sheldon Rd. in Channelview, just east of Houston.
ConnectCRE said John Zubak, managing director and head of origination, Western Region, led both California deals, while Elias Haddad, director of the Central Region, led the Channelview industrial financing.