340 15th St. -- Photo courtesy of HFF

340 15th St. -- Photo courtesy of HFF

San Diego developer Nakhshab Development & Design Inc. has obtained $2.94 million in refinancing for a newly built apartment property in East Village, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

An HFF statement said the 10-year loan, obtained through a commercial bank, replaced an existing construction loan on a recently completed, nine-unit boutique apartment building at 340 15th St. The five-story building, known as Mitra, was completed in January.

The loan was arranged by a debt placement team led by HFF’s Aldon Cole and Chris Collins