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SAN DIEGO — Chicago-based CEDARst Cos. has obtained an $80 million construction loan to develop The Samuel, a 197-unit apartment community in San Diego’s North Park neighborhood. Zach Kersten, Jack Wood and Ben Choromanski of JLL arranged the three-year, floating rate loan through Boston-based CrossHarbor Capital Partners.
Located at 2821 Adams Ave., The Samuel will be an eight-story development comprised of studios, one- and two-bedroom units. Community amenities will include a pool, fitness center, coworking lounge, fire pits, game deck and a rooftop lounge with an outdoor kitchen. Construction is expected to begin later this year with completion slated for the fourth quarter of 2028.