Broadshore Closes Fifty Three Million Dollar Bridge Loan to Support Lease Up at 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. The financing, arranged in partnership with an institutional investor, will support lease-up and stabilization of the property, which was delivered in 2025.

Monroe North Park is an eight-story, podium-style community encompassing approximately 87,000 net rentable square feet. The asset offers institutional-quality construction, structured parking with EV charging capabilities, rooftop entertainment and co-working amenities, and a curated resident experience aimed at affluent urban renters. The property is located at 3090 Polk Avenue, providing walkable access to dining, retail, breweries, and cultural amenities, with connectivity to Downtown San Diego, Mission Valley, Balboa Park, and broader employment centers.

The loan was completed with an institutional partner with whom Broadshore maintains an active lending relationship focused on sourcing and executing bridge financing opportunities across the United States. The financing is intended to facilitate the property’s lease-up and path to stabilization.

"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."

This transaction illustrates ongoing institutional interest in bridge financing for newly delivered, amenity-forward urban assets where lease-up and stabilization are the near-term value drivers. Features such as EV charging and co-working space reflect evolving resident expectations that operators and capital providers are pricing into underwriting and asset positioning.

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