PNC provides $93.5m for San Diego property acquisition

PNC Financial Services has provided a $93.5m first mortgage loan for the acquisition of the two-building Aventine office and retail complex in San Diego, California. The loan, which carries a loan-to-value ratio of about 62 percent, funds Massachusetts-based Rockpoint Group’s $150m acquisition from Blackstone. The 240,000 sq ft complex is made up of an office […]