Lightstone Capital, Lightstone’s real estate debt platform, recently closed three originations totaling $70 million across California and Texas. The financings include two multifamily communities in the San Diego region and an industrial property in the greater Houston logistics corridor.Â
In California, Lightstone Capital originated a senior loan for Kaya Apartments, a 78-unit multifamily community at 2700 Third Ave. in San Diego’s Bankers Hill neighborhood. The company also originated a senior loan for The Flats at TerraMar, located at 5010 Avenida Encinas in Carlsbad. The project is set to convert a former Studio 6 hotel into a 98-unit apartment community, including 15 affordable units
In Texas, Lightstone Capital originated a senior loan for the acquisition of an industrial asset located at 300 S. Sheldon Rd. in Channelview, just east of Houston. John Zubak, managing director and head of origination, Western Region, led both California deals, while the Channelview industrial financing was led by Elias Haddad, director of the Central Region.
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