Exterior

Interior

1007 5th Ave., San Diego, CA 92101

Broadway Lofts is a 12-story, historic bank building originally constructed in 1909 and located adjacent to Horton Plaza in the Gas Lamp District of San Diego, California. Broadway Lofts was structured as a joint venture between Genton Cockrum Partners and an institutional investor. The project was acquired as a public-private partnership established through a protracted and competitive public process. The $25 million project was acquired, entitled, constructed, and managed by Genton Cockrum Partners.

Investment Strategy

The Broadway Lofts investment thesis was to capitalize on the healthy demand for affordable rental or for-sale product in the supply-constrained Gas Lamp District submarket. Acquiring and repositioning the abandoned building for residential use as well as obtaining a condominium map added property value. Broadway Lofts was well-positioned to address the market’s lack of new product at the time and its lack of affordable housing. The project was developed in 2006.