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EBSC Lending Provides $37.0 Million Bridge Loan for Acquisition and Renovation of 215-Unit Multifamily Community in Point Loma, California.

  • Elite Business Service, LLC. Nationwide Private Lender
  • 4 hours ago
  • 3 min read

POINT LOMA (SAN DIEGO), CA — EBSC Lending has provided a $37.0 million bridge loan to facilitate the acquisition and renovation of a 215-unit multifamily community located in Point Loma, a coastal submarket of San Diego, California. The financing enabled an expedited closing and supports a comprehensive capital improvement program.

Transaction Overview

The borrower is a repeat EBSC Lending client and an experienced multifamily owner-operator with a portfolio of approximately 8,000 units across 93 properties in 26 states. The sponsor has a deep operating history in California, having managed nearly 5,000 units statewide, including more than 2,700 units previously owned.


The floating-rate bridge loan carries a three-year term and was underwritten and executed on an expedited basis to support a three-week closing timeline. Loan proceeds include more than $4 million dedicated to capital improvements, along with substantial funding for debt service reserves, providing flexibility during the renovation and lease-up period.


Commenting on the relationship and execution, Jeff Goldman, the sponsor’s Chief Financial Officer, stated, “As a repeat borrower, we continue to value EBSC Lending’s consistency and responsiveness. Martin and his team are trusted partners who help us act decisively on opportunities while we remain focused on serving renters across the affordability spectrum.”


Originally constructed in 1977, the garden-style community consists of 11 three-story apartment buildings. The unit mix includes 117 one-bedroom residences, 65 two-bedroom residences, and 33 three-bedroom residences, offering a range of layouts to serve diverse renter needs.


From the lender’s perspective, Martin Alex, CEO of EBSC Lending, noted, “Point Loma is a highly desirable coastal submarket with enduring renter demand and limited new supply. We’re proud to support our repeat client with a flexible bridge structure that enables both the execution of their business plan and the timely delivery of upgraded housing.”


EBSC Lending Provides $37 Million Bridge Loan for Acquisition and Renovation of 215-Unit Multifamily Community in Point Loma, California
EBSC Lending Provides $37 Million Bridge Loan for Acquisition and Renovation of 215-Unit Multifamily Community in Point Loma, California

Market Context + What It Means

Coastal Southern California submarkets such as Point Loma benefit from persistent renter demand, limited new construction, and high barriers to entry. Value-add multifamily opportunities in these locations often require fast-executing bridge capital to support acquisitions, fund renovations, and manage transitional periods.


Bridge loans that include dedicated capex funding and reserve support allow sponsors to modernize assets while maintaining operational stability. Lenders capable of underwriting and closing quickly are essential partners in competitive acquisition environments.


By providing a $37.0 million bridge loan, EBSC Lending enabled the sponsor to acquire and reposition a well-located multifamily asset while advancing improvements that support long-term performance in a supply-constrained coastal market.

Frequently Asked Questions

What type of financing did EBSC Lending provide?

EBSC Lending provided a $37.0 million floating-rate bridge loan for the acquisition and renovation of a multifamily community.


How is the loan structured?

The loan features a three-year term, includes over $4 million for capital improvements, and provides debt service reserve funding.


What are the key features of the property?

The community includes 215 units across 11 buildings with a mix of one-, two-, and three-bedroom residences in the Point Loma submarket of San Diego.


What types of multifamily projects does EBSC Lending finance?

EBSC Lending finances acquisition, renovation, bridge, construction, and refinance transactions for multifamily and mixed-use assets nationwide.

Related EBSC Lending Financing Programs

EBSC Lending provides flexible private capital solutions across the United States, including:


 
 
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