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Downtown 'Lofts' Developer Gets Nearly $40-Mil Loan

SAN DIEGO-San Diego National Bank has agree provide financing to finish construction of a residential lofts project now under way in the East Village neighborhood near the proposed ballpark.

By Randyl J. Drummer | Updated on April 12, 2001

SAN DIEGO-A local developer announced it has arranged a $39.6 million loan with San Diego National Bank to finance construction of itsParkloft residential lofts project now under way in the East Village neighborhood.

Douglas Wilson Cos. and its equity partner,New York-based Lehman Brothers Holdings, will use the loan to build the 11-story concrete-and-brick structure that will house 120 one- and two-story loft condominiums on a 40,000-sf parcel of the 800 block of Island Street.

Concrete work began at the site in late January.

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