Wells Fargo’s Community Lending and Investment (CLI) group provided a total of $57.9 million in financing to Wakeland for the new construction of La Sabila, an affordable housing community located in the San Diego suburb of Vista. CLI provided a $30.5 million construction loan and $27.4 million equity investment.
The project will consist of 85 residential units reserved for low-income seniors (55+). The property will feature on-site management, vehicular parking, community room with computer area and kitchen, laundry facilities, on-site resident services, courtyard/picnic area, and a conference room.
Timothy McCann, Terence Cordero, and Jessica Gonzalez, of CLI arranged the financing.
