The Broadway
Photo courtesy of NorthMarq

The Broadway Photo courtesy of NorthMarq

 

A Chula Vista apartment complex has been refinanced with a $14.1 million loan.

Silvergate Development based in Point Loma received the loan for The Broadway apartments, 260 Broadway.

Completed earlier this year, The Broadway has 62 apartments ranging from about 600 square feet to nearly 1,000 square feet.

Monthly rents range from about $1,800 to about $2,400.

The refinancing loan was secured through Fannie Mae by Aaron Beck, senior vice president of NorthMarq’s San Diego office.

Beck said that the property qualified for a Fannie-Mae-approved green certification that lowered the interest rate on the loan to below 3%.