Broadshore Capital Partners Closes Fifty Three Million Two Hundred Thousand Dollar Bridge Loan for Monroe North Park in San Diego
Broadshore Capital Partners closed a $53.2 million floating-rate senior bridge loan secured by Monroe North Park, a newly delivered 137-unit Class A multifamily community in the North Park neighborhood of San Diego, California. The financing, completed with an institutional investor partner, will support lease-up and stabilization of the property, which was delivered in 2025.
The Property was developed with institutional-quality construction and includes structured parking with EV charging capabilities, rooftop entertainment and co-working amenities, and a curated resident experience aimed at affluent urban renters. The loan aligns with Broadshore s strategy of deploying capital into newly delivered assets where there is conviction in collateral quality and long-term fundamentals.
“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, Monroe North Park presented a compelling combination of basis protection, institutional-quality collateral, and a clear path to stabilization. The sponsorship group s track record in similar transitional multifamily strategies, paired with the Property s differentiated location and amenity package, gave us strong confidence in the underwriting.”
Monroe North Park is an eight-story, podium-style community totaling approximately 87,000 net rentable square feet. Located at 3090 Polk Avenue, the community offers walkable access to dining, retail, breweries, and cultural amenities, with direct connectivity to Downtown San Diego, Mission Valley, Balboa Park, and broader employment centers.
This transaction illustrates the role of bridge financing in supporting newer assets through lease-up and into stabilized operations, and reflects continued institutional capital allocation to well-located, supply-constrained urban submarkets.