SAN DIEGO — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $48 million construction loan for GH 25, a planned multifamily development in San Diego. CAST Development is the borrower and project developer. The loan will be used alongside sponsor equity to fund construction, establish an interest reserve and cover transaction costs for the borrower.
The eight-story project will offer 114 studio, one- and two-bedroom apartments with ceiling heights up to 10 feet, floor-to-ceiling glass windows and private balconies. Onsite amenities will include a seventh-floor amenity terrace with a plunge pool, fire pits, barbecues and lounge areas. GH 25 will also feature 3,250 square feet of ground-floor retail space and commercial space anchored by a restaurant and wine bar concept. TFWA Architects is serving as architect for the project.