Wells Fargo Provides $57.9M Financing for La Sabila Affordable Development in San Diego

by Jeff Shaw

SAN DIEGO — Wells Fargo’s Community Lending and Investment (CLI) group has provided a total of $57.9 million in financing for construction of La Sabila, an affordable housing community for seniors in San Diego. The borrower is Wakeland.

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 residents over age 55. Further details were not disclosed.

Timothy McCann, Terence Cordero and Jessica Gonzalez of CLI arranged the financing.

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