Broadshore Capital Partners Closes $53.2 Million Bridge Loan on San Diego Multifamily Property With Institutional Investor

Broadshore Capital Partners has closed a $53.2 million floating-rate senior bridge loan secured by Monroe North Park, a 137-unit Class A multifamily community located at 3090 Polk Avenue in the North Park neighborhood of San Diego, California, the firm announced June 25.

The loan was completed in partnership with an institutional investor with whom Broadshore Capital Partners maintains an active lending relationship focused on sourcing and executing bridge financing opportunities across the United States. Proceeds will be used to facilitate the lease-up and stabilization of the property, which was delivered in 2025.

Deal Terms and Property Details

Monroe North Park is an eight-story, podium-style community comprising approximately 87,000 net rentable square feet. Based on the loan amount and property metrics disclosed by the firm, the financing equates to roughly $388,000 per unit and approximately $611 per rentable square foot.

The property features structured parking with electric vehicle charging capabilities, rooftop entertainment areas, co-working amenities, and a resident experience designed to appeal to higher-income urban renters. Monroe North Park is situated in the heart of North Park, offering walkable access to dining, retail, breweries, and cultural amenities, with connectivity to Downtown San Diego, Mission Valley, Balboa Park, and major employment centers throughout the broader metropolitan area.

Lender Commentary on Strategy and Collateral

"San Diego is one of the most fundamentally sound multifamily markets in the country, and North Park represents exactly the kind of supply-constrained, high-demand urban submarket we want to be in," said Bradford Howe, Chief Executive Officer of Broadshore Capital Partners. "This transaction is consistent with our strategy of deploying institutional capital into well-located, newly delivered assets where we have conviction in the collateral quality and the long-term fundamentals. Broadshore has made many successful investments in the San Diego area over its history and believes Monroe North Park will be another success for our firm and our partner."

Chris Miller, Senior Vice President at Broadshore Capital Partners, added that the deal presented "a compelling combination of basis protection, institutional-quality collateral, and a clear path to stabilization." Miller cited the sponsorship group's track record in similar transitional multifamily strategies, along with the property's location and amenity package, as factors supporting the firm's underwriting confidence.

Bridge Financing in a Transitional Multifamily Context

The use of a floating-rate bridge structure reflects a common approach for newly delivered assets that have not yet reached stabilized occupancy. By deploying a bridge loan, the institutional investor and Broadshore Capital Partners are providing capital during the lease-up phase, with the expectation that the property will transition to longer-term financing once occupancy stabilizes.

About Broadshore Capital Partners

Broadshore Capital Partners is a real estate investment manager focused on originating and managing structured debt and equity investments across high-quality commercial real estate assets in select U.S. markets. Additional information is available at www.Broadshore.com.

Sources: Broadshore Capital Partners — Official Announcement, June 25, 2026