SAN DIEGO — Impact Housing and Verbena Road Holdings have received $112.2 million in financing for Mission Gorge, a modular affordable housing development in San Diego. Charles Halladay, Joseph Choi and Will Bond of JLL Capital Market’s Debt Advisory team secured an $85.2 million, three-year, floating-rate senior construction loan through ACORE CAPITAL, as well as $27 million in preferred equity from Ascendant Capital Partners for the borrower. Located at 6171 Mission Gorge Road, Mission Gorge will feature 483 studio and one-bedroom units for residents earning at or below 80 percent of the area median income. The apartments will offer quartz countertops, appliances, wall dividers with built-in storage and recessed lighting with dimmer switches. Community amenities will include laundry facilities, lounge space, a 4,150-square-foot roof deck, a fully equipped fitness center, coworking space and ground-floor retail space.
