JLL Capital Markets secured an acquisition and repositioning loan for Grand Prix Auto Club, a garage condo redevelopment project in San Diego. Located at 8108 Mercury Ct. in San Diego, Grand Prix Auto Club will transform an existing industrial facility into a destination for car enthusiasts and collectors.
The 2.08-acre project will feature 23 for-sale condo units ranging from 900 to 2,800 square feet. It will offer the option to combine units to create larger spaces for extensive automotive collections.
Owner Bob Mueller, a car enthusiast himself, said “This is the first of its kind in San Diego, but already proven in other areas. The concept is ownership-based and not for rent, which has many advantages. It will be a great way to store and showcase car collections.”
JLL Capital Markets’ Debt Advisory team was led by director Brad Vansant and Jenna Frakes. Terms of the loan were not disclosed.
