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Financing Closes for Downtown Hotel, Condos

SAN DIEGO-The developer of the Downtown ballpark district today says that $104 million in financing has closed for the new Omni San Diego Hotel and Metropolitan condominiums.

By Randyl J. Drummer | Updated on April 29, 2002

SAN DIEGO-Culminating a four-year effort, JMI Realty today says that $104 million in financing has closed for the new Omni San Diego Hotel and Metropolitan condominiums, planned across from the Downtown ballpark.

The transaction is the largest — and one of just a few — hotel loans that have closed in the United States since Sept. 11, according to JMI Realty officials.

“With this final hurdle behind us, we will be resuming construction on the Omni San Diego Hotel immediately,” says John Kratzer, president of JMI Realty, master developer of the Ballpark District. “Our lending team has remained steadfastly committed with us to seeing this project through.”

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