$4M acquisition and renovation financing secured for El Jugador in Oceanside

SAN DIEGO, Dec. 12, 2024 –  JLL Capital Markets announced today that it has secured a $4 million acquisition financing for El Jugador, a 15-unit multi-family property located in Oceanside, California.

JLL worked on behalf of the borrower, ORKA Holdings, to arranging a short-term floating rate loan to be used towards the purchase price and the substantial renovation work planned for the property. El Jugador represents ORKA’s sixth San Diego investment for 2024.

El Jugador, nestled at 221 S Nevada St. in Oceanside, offers residents a prime location just six blocks from the city's expansive sandy beaches. This multifamily community provides easy access to downtown Oceanside's vibrant dining, shopping and nightlife scene, while its strategic position near the Oceanside Transit Center ensures convenient transportation options. With close proximity to I-5, El Jugador combines coastal living with urban connectivity making it an ideal choice for those seeking a balanced lifestyle.

Oceanside, a growing coastal city in San Diego County, has seen increasing popularity among Southern California beach enthusiasts. The area offers a variety of outdoor activities, including volleyball, sailing, surfing, running, biking and golf. New housing and hotel developments are enhancing the neighborhood and driving excitement in the local real estate market.

Built in 1970, El Jugador features a mix of two- and three-bedroom townhomes situated on a 14,259-square-foot lot. The property includes 12 garages and offers ocean views from its rear units.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Aldon Cole and Director Brad Vansant.

"El Jugador's prime location in Oceanside, coupled with the ability to significantly enhance the community made it an attractive investment opportunity in Southern California's competitive coastal real estate market," Vansant said. "Our team was able to secure favorable financing terms that align with the borrower's investment strategy, reflecting the continued demand for well-positioned multifamily assets in growing coastal communities."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.