LOS ANGELES — Sunday Capital today announced it has secured financing for a $31 million, three parcel, 297-acres development. The new Santa Fe Valley community will include 37 two to ten acres lots in one of the last undeveloped parcels in this coveted residential area adjacent to Rancho Santa Fe, which is often dubbed the “Beverly Hills” of San Diego County. As a part of the financing, Sunday Capital has secured the first $19 million loan that will allow for the development of Phase One of the community, which has already been presold.
The property currently exists as pristine vacant land, and the developer will create finished pads and the community infrastructure necessary for the development of high-end, luxury estate style, single family homes over the next two years. Due to high demand seen from the Los Angeles and San Francisco markets, sixteen of these lots have already been presold to a homebuilder, with whom the Owner will partner for the vertical development phase of the project.
When complete, the project will be one of the only new luxury estates and secure gated communities in the area. Its location in the foothills of Santa Fe Valley offer exceptional views to the west to Del Mar and beyond. The zoning for each lot will have been meticulously approved in a multi-year entitlement and mapping process. Each lot will have the option for attached and detached accessory dwelling units (ADUs) to accommodate multigenerational families as well as room for a detached barn for additional cars or workspace.
“This project is one of the last opportunities of its kind in this coveted part of San Diego County. The multi-parcel development will offer future residents access to the outdoors surrounded by natural parks and trails, while also providing access to three key highways, a technology and science employment hub, and two major shopping districts,” said a representative of Sunday Capital. “We believe in the vision of this project, and we’re thrilled to be able to support it moving forward.”
Sunday Capital is a brand-new, Los Angeles-based transitional lending specialist, focused on multi-family, horizontal land, and other transitional assets in Southern California and other select regions nationwide. Sunday was founded by a team of multi-family owners who wish to expand limited financing options available in Southern California. The firm is has originated nearly $100mm of debt since its founding last summer and is currently working on financing for $50mm of other projects in the region.
