LFB Ventures was approached by a developer who was looking to secure construction financing for a fully entitled multifamily project in San Diego. The project, designed as modular construction, has a total of 324 units and will be six stories in height with ground level parking.

The project utilized San Diego’s Complete Communities entitlement path, making it a non-dictionary, by-right project. The project is located within the College Area of San Diego and is within 1 mile of San Diego State University. LFB was able secure private capital for the construction financing, which allowed time for both construction and lease up. Takeout of the construction financing will be permanent debt.