Commercial Real Estate Loans Refinancing Commercial Real Estate Commercial Mortgage 10 Year Fixed Rate 30 Year Amortization
A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.
Commercial mortgages are structured to meet the needs of the borrower and the lender. Key terms include the loan amount (sometimes referred to as "loan proceeds"), interest rate, term (sometimes referred to as the "maturity"), amortization schedule, and prepayment flexibility. Commercial mortgages are generally subject to extensive underwriting and due diligence prior to closing. The lender's underwriting process may include a financial review of the property and the property owner (or "sponsor"), as well as commissioning and review of various third-party reports, such as an appraisal.
There were $3.1 trillion of commercial and multifamily mortgages outstanding in the U.S. as of June 30, 2013. Of these mortgages, approximately 49% were held by banks, 18% were held by asset-backed trusts (issuers of CMBS), 12% were held by government-sponsored enterprises and Agency and GSE-backed mortgage pools, and 10% were held by life insurance companies.
Commercial mortgages can be structured as first liens or, if a greater loan amount is desired, the borrower may be able to obtain subordinate financing as well, sometimes structured as a mezzanine note or as preferred equity, which generally carries a higher interest rate.
Interest rates for commercial mortgages may be fixed-rate or floating rate. Fixed-rate mortgages on stabilized commercial real estate are generally priced based on a spread to swaps, with the swap spread matched to the term of the loan. Market interest rates as well as underwriting factors greatly affect the interest rate quoted on a particular piece of commercial real estate. Interest rates for commercial mortgages are usually higher than those for residential mortgages.
Many commercial mortgage lenders require an application fee or good-faith deposit, which is typically used by the lender to cover underwriting expenses such as an appraisal on the property. Commercial mortgages may also have origination or underwriting fees (paid at close as a reduction in loan proceeds) and/or exit fees (paid when the loan is repaid).
The term of a commercial mortgage is generally between five and ten years for stabilized commercial properties with established cash flows (sometimes called "permanent loans"), and between one and three years for properties in transition, for example, newly opened properties or properties undergoing renovation or repositioning (sometimes called "bridge loans"). Mortgages on multifamily properties that are provided by a government-sponsored enterprise or government agency may have terms of thirty years or more. Some commercial mortgages may allow extensions if certain conditions are met, which may include payment of an extension fee. Some commercial mortgages have an "anticipated repayment date," which means that if the loan is not repaid by the anticipated repayment date, the loan is not in default.
Commercial mortgages frequently amortize over the term of the loan, meaning the borrower pays both interest and principal over time, and the loan balance at the end of the term is less than the original loan amount. However, unlike residential mortgages, commercial mortgages generally do not fully amortize over the stated term, and therefore frequently end with a balloon payment of the remaining balance, which is often repaid by refinancing the property. Some commercial mortgages have an interest-only period at the beginning of the loan term during which time the borrower only pays interest.
Commercial loans vary in their prepayment terms, that is, whether or not a real estate investor is allowed to refinance the loan at will. Some portfolio lenders, such as banks and insurance companies, may allow prepayment flexibility. In contrast, for a borrower to prepay a conduit loan, the borrower will have to defease the bonds, by buying enough government bonds (treasuries) to provide the investors with the same amount of income as they would have had if the loan was still in place.
A commercial mortgage is typically taken on by a special purpose entity such as a corporation or an LLC created specifically to own just the subject property, rather than by an individual or a larger business. This allows the lender to foreclose on the property in the event of default even if the borrower has gone into bankruptcy, that is, the entity is "bankruptcy remote".
Commercial mortgages may be recourse or non-recourse. A recourse mortgage is supplemented by a general obligation of the borrower or a personal guarantee from the owner(s) of the property, which makes the debt payable in full even if foreclosure on the property does not satisfy the outstanding balance. A nonrecourse mortgage is secured only by the commercial property that serves as collateral. In an event of default, the creditor can foreclose on the property, but has no further claim against the borrower for any remaining deficiency.
If a sponsor is seeking financing on a portfolio of commercial real estate properties, rather than a single property, the sponsor may choose to take out a cross-collateralized loan, in which the all of the properties collateralize the loan.
Lenders may require borrowers to establish reserves to fund specific items at closing, such as anticipated tenant improvement and leasing commission (TI/LC) expense, needed repair and capital expenditure expense, and interest reserves.
Lenders usually require a minimum debt service coverage ratio which typically ranges from 1.1 to 1.4; the ratio is net cash flow (the income the property produces) over the debt service (mortgage payment). As an example if the owner of a shopping mall receives $300,000 per month from tenants, pays $50,000 per month in expenses, a lender will typically not give a loan that requires monthly payments above $227,273 (($300,000-$50,000)/1.1)), a 1.1 debt cover.
Lenders also look at loan to value (LTV). LTV is a mathematical calculation which expresses the amount of a mortgage as a percentage of the total appraised value. For instance, if a borrower wants $6,000,000 to purchase an office worth $10,000,000, the LTV ratio is $6,000,000/$10,000,000 or 60%. Commercial mortgage LTV's are typically between 55% and 70%, unlike residential mortgages which are typically 80% or above.
Lenders look at rents per square foot, cost per square foot and replacement cost per square foot. These metrics vary widely depending on the location and intended use of the property, but can be useful indications of the financial health of the real estate, as well as the likelihood of competitive new developments coming online.
Since the financial crisis, lenders have started to focus on a new metric, debt yield, to complement the debt service coverage ratio. Debt yield is defined as the net operating income (NOI) of a property divided by the amount of the mortgage.
Lenders typically do thorough extreme due diligence on a proposed commercial mortgage loan prior to funding the loan. Such due diligence often includes a site tour, a financial review, and due diligence on the property's sponsor and legal borrowing entity. Many lenders also commission and review third-party reports such as an appraisal, environmental report, engineering report, and background checks.
Providers of commercial mortgages
Banks, large and small, are traditional providers of commercial mortgages. According to the Federal Reserve, banks held $1.5 trillion of commercial mortgages on their books as of June 30, 2013.
Conduit lenders originate commercial mortgages and hold them as investments for a short period of time before securitizing the loans and selling CMBS secured by the underlying commercial mortgage loans. Conduit lenders include both banks and non-bank finance companies. Approximately $560 billion of commercial mortgages were held by issuers of CMBS as of June 30, 2013, according to the Federal Reserve.
Securitization of commercial mortgages in its current form began with the Resolution Trust Corporation's (or RTC's) commercial securitization program in 1992-1997. The RTC applied an approach similar to the one it had begun successfully using with residential mortgages, issuing multiple tranches of securities secured by diversified pools of commercial mortgage loans. Following the introduction of the securitization methods by the RTC, private banks began to originate loans specifically for the purpose of turning them into securities. These loans are typically structured to forbid prepayment beyond a specified amortization schedule. This makes the resultant securities more attractive to investors, because they know that the commercial mortgages will remain outstanding even if interest rates decline.
New CMBS issuance peaked in 2007 at $229 billion. Then, the subprime mortgage crisis and the resultant global financial crisis caused CMBS prices to fall dramatically, and new issuances of CMBS securities came to a virtual halt in 2008-2009. The market has begun to recover, with $12 billion in new issuance in 2010, $37 billion in new issuance in 2011, and $48 billion in new issuance in 2012.
Government-sponsored enterprises such as Fannie Mae and Freddie Mac, as well as government corporations such as Ginnie Mae, are active lenders for multifamily commercial real estate (that is, apartment buildings) in the United States. Approximately $390 billion of multifamily residential mortgages were held by government-sponsored enterprises or Agency and GSE-backed mortgage pools as of June 30, 2013, representing 12% of total commercial mortgages outstanding and 43% of multifamily commercial mortgages outstanding at that time.
Insurance companies are active investors in commercial mortgages, and hold approximately $325 billion of commercial mortgages as of June 30, 2013.
Mortgage brokers do not provide commercial mortgage loans, but are often used to obtain multiple quotes from different potential lenders and to manage the financing process.
Correspondent Lenders do not loan their own money, but provide front end services such as origination, underwriting, and loan servicing for lenders that utilize these types of companies. The correspondent often represents lenders in a particular geographic area.
San Diego County is a county located in the southwestern corner of the state of California, in the United States. As of the 2010 census, the population was 3,095,313. making it the second-most populous county in California and the fifth-most populous in the United States. Its county seat is San Diego, the eighth-most populous city in the United States. It is the south-westernmost county in the 48 contiguous United States.
San Diego County comprises the San Diego-Carlsbad Metropolitan Statistical Area. The San Diego-Carlsbad, CA Metropolitan Statistical Area as the 17th most populous metropolitan statistical area and the 18th most populous primary statistical area of the United States as of July 1, 2012. San Diego is also part of the San Diego–Tijuana metropolitan area, the largest metropolitan area shared between the United States and Mexico. Greater San Diego ranks as the 39th largest metropolitan area in the Americas.
There are also 16 naval and military installations of the U.S. Navy, U.S. Marine Corps, and the U.S. Coast Guard in San Diego County. These include the Naval Base San Diego, Marine Corps Base Camp Pendleton, Marine Corps Air Station Miramar, and Naval Air Station North Island.
From north to south, San Diego County extends from the southern borders of Orange County and Riverside County to the Mexico–United States border and Baja California. From west to east, San Diego County stretches from the Pacific Ocean to its boundary with Imperial County.
Main article: History of San Diego
In 1542, the Portuguese-born explorer Juan Rodríguez Cabrillo, sailing for Spain, claimed San Diego Bay for the Spanish Empire, and he named the site San Miguel. In November 1602, Sebastián Vizcaíno surveyed the harbor and what are now Mission Bay and Point Loma and named the area for Saint Didacus, a Spaniard more commonly known as San Diego. European settlement in what is now San Diego County began with the founding of the San Diego Presidio and Mission San Diego de Alcalá by Spanish soldiers and clerics in 1769. This county was part of Alta California under the Viceroyalty of New Spain until the Mexican declaration of independence. From 1821 through 1848 this area was part of Mexico.
San Diego County became part of the United States as a result of the Treaty of Guadalupe Hidalgo in 1848, ending the U.S.-Mexican War. This treaty designated the new border as terminating at a point on the Pacific Ocean coast which would result in the border passing one Spanish league south of the southernmost portion of San Diego Bay, thus ensuring that the United States received all of this natural harbor.
San Diego County was one of the original counties of California, and it was created at the time of California statehood in 1850.:221
At the time of its establishment in 1850, San Diego County was relatively large, and included all of southernmost California which was south and east of Los Angeles County. As such it included areas of what are now Inyo County and San Bernardino County, as well as all of what is now Riverside County and Imperial County.:221
During the later part of the 19th century, there were numerous changes in the boundaries of San Diego County, when various areas became separated for the counties mentioned above. The most recent changes were the establishments of Riverside County in 1893:207 and Imperial County in 1907.:113 Imperial County was also the last county to be established in California, and after this division, San Diego no longer extended from the Pacific Ocean to the Colorado River, and it no longer covered the entire border between California and Mexico.
According to the U.S. Census Bureau, the county has a total area of 4,526 square miles (11,720 km2), of which 4,207 square miles (10,900 km2) is land and 319 square miles (830 km2) (7.0%) is water. The county is larger in area than the combined states of Rhode Island and Delaware.
San Diego County has a varied topography. On its western side is 70 miles (110 km) of coastline. Most of San Diego between the coast and the Laguna Mountains consists of hills, mesas, and small canyons. Snow-capped (in winter) mountains rise to the northeast, with the Sonoran Desert to the far east. Cleveland National Forest is spread across the central portion of the county, while the Anza-Borrego Desert State Park occupies most of the northeast. Although the western third of the county is primarily urban, the mountains and deserts in the eastern two-thirds of the county consist primarily of undeveloped backcountry. Most of these backcountry areas are home to a native plant community known as chaparral. San Diego County contains more than a million acres (4,000 km²) of chaparral, twice as much as any other California county.
North San Diego County is known as North County; the exact geographic definitions of "North County" vary, but it includes the northern suburbs and sometimes certain northern neighborhoods of the City of San Diego.
The eastern suburbs are collectively known as East County, though most still lie in the western third of the county. The southern suburbs and southern detached portion of the city of San Diego, extending to the Mexican border, are collectively referred to as South Bay.
Periodically the area has been subject to wildfires that force thousands to evacuate. The most recent are the May 2014 San Diego County wildfires; before them was the Witch Creek Fire in 2007 and the Cedar Fire in 2003. California defines a fire season in which fires are most likely to occur, usually between the months of late July and late October (which are the driest months of the area). Signs are posted in numerous spots of the county providing information on the level of threats from fires based on weather conditions.
Main article: Climate of San Diego, California
Under the Köppen climate classification system, the San Diego area straddles areas of Mediterranean climate (CSa) to the north and semi-arid climate (BSh) to the south and east. As a result, it is often described as "arid Mediterranean" and "semi-arid steppe". San Diego's climate is characterized by warm, dry summers and mild winters with most of the annual precipitation falling between November and March. The city has mild, mostly dry weather, with an average of 201 days above 70 °F (21 °C) and low rainfall (9–13 inches (23–33 cm) annually). Summer temperatures are generally warm, with average highs of 70–78 °F (21–26 °C) and lows of 55–66 °F (13–19 °C). Temperatures exceed 90 °F (32 °C) only four days a year. Most rainfall occurs from November to April. Winter temperatures are mild, with average high temperatures of 66–70 °F (19–21 °C) and lows of 50–56 °F (10–13 °C).
The climate in the San Diego area, like much of California, often varies significantly over short geographical distances resulting in microclimates. In San Diego's case this is mainly due to the city's topography (the Bay, and the numerous hills, mountains, and canyons). Frequently, particularly during the "May gray/June gloom" period, a thick marine layer will keep the air cool and damp within a few miles of the coast, but will yield to bright cloudless sunshine approximately 5–10 miles (8.0–16.1 km) inland. This happens every year in May and June. Even in the absence of June gloom, inland areas tend to experience much more significant temperature variations than coastal areas, where the ocean serves as a moderating influence. Thus, for example, downtown San Diego averages January lows of 50 °F (10 °C) and August highs of 78 °F (26 °C). The city of El Cajon, just 10 miles (16 km) northeast of downtown San Diego, averages January lows of 42 °F (6 °C) and August highs of 88 °F (31 °C).
Rainfall along the coast averages about 10 inches (25 cm) of precipitation annually, which occurs mainly during the cooler months of December through April. Though there are few wet days per month during the rainy period, rainfall can be heavy when it does fall. However, the rainfall is greater in the higher elevations of San Diego. Some of the higher areas of San Diego can receive 11–13 inches (28–33 cm) of rain a year.
Adjacent counties and municipalities
National protected areas
There are 7 official wilderness areas in San Diego County that are part of the National Wilderness Preservation System. Four of these are integral parts of Cleveland National Forest, whereas three are managed by the Bureau of Land Management. Some of these extend into neighboring counties (as indicated below):
State parks and protected areas
There are 236 mountain summits and peaks in San Diego County including:
Bays and lagoons
Main article: Demographics of San Diego County
Half of the county's population lives in San Diego and Chula Vista. In 2000, only about 3% of San Diego County residents left the county for work while 40,000 people commuted into the metropolitan area.
The 2010 United States Census reported that San Diego County had a population of 3,095,313. The racial makeup of San Diego County was 1,981,442 (64.0%) White, 158,213 (5.1%) African American, 26,340 (0.9%) Native American, 336,091 (10.9%) Asian (4.7% Filipino, 1.6% Chinese, 1.4% Vietnamese, 3.2% Other Asian), 15,337 (0.5%) Pacific Islander, 419,465 (13.6%) from other races, and 158,425 (5.0%) from two or more races. Hispanic or Latino of any race were 991,348 persons (32.0%).
As of 2009, the racial makeup of the county was 79.4% White American, 5.6% Black or African American, 1% Native American, 10.4% Asian, 0.5% Pacific Islander, 10.3% from other races, and 3.6% from two or more races. 31.3% of the population were Hispanic or Latino of any race.
As of 2009 Census Bureau estimates, there were 3,053,793 people, 1,067,846 households, and 663,449 families residing in the county. The population density was 670 people per square mile (259/km²). There were 1,142,245 housing units at an average density of 248 per square mile (96/km²).
In 2000 there were 994,677 households out of which 33.9% had children under the age of 18 living with them, 50.7% were married couples living together, 11.6% had a female householder with no husband present, and 33.3% were non-families. 24.2% of all households were made up of individuals and 7.9% had someone living alone who was 65 years of age or older. The average household size was 2.73 and the average family size was 3.29.
As of 2000, in the county the population was spread out with 25.7% under the age of 18, 11.30% from 18 to 24, 32.0% from 25 to 44, 19.8% from 45 to 64, and 11.2% who were 65 years of age or older. The median age was 33 years. For every 100 females there were 101.2 males. For every 100 females age 18 and over, there were 99.7 males.
According to the 2000 Census, the median income for a household in the county was $47,067, and the median income for a family was $53,438. Males had a median income of $36,952 versus $30,356 for females. The per capita income for the county was $22,926. About 8.9% of families and 12.4% of the population were below the poverty line, including 16.5% of those under age 18 and 6.8% of those age 65 or over.
Much of the county's high-income residents are concentrated in the northern part of the city of San Diego. The San Diego metropolitan area has two places with a both a population of over 50,000 per capita income of over $40,000: Carlsbad and Encinitas.
The county's largest continuous high-income urban area is a triangle from a first point on the northern edge of Carlsbad, a second point southeast of Escondido, and a third point on the southern edge of La Jolla. It contains all or most of the cities of Carlsbad, Encinitas, Solana Beach, Del Mar, and Poway in addition to a substantial portion of northern San Diego.
Main article: Government of San Diego County, California
The Government of San Diego County is defined and authorized under the California Constitution, California law, and the Charter of the County of San Diego. Much of the Government of California is in practice the responsibility of county governments such as the Government of San Diego County. The County government provides countywide services such as elections and voter registration, law enforcement, jails, vital records, property records, tax collection, public health, and social services. In addition the County serves as the local government for all unincorporated areas. Some chartered cities such as San Diego and Chula Vista provide municipal services such as police, public safety, libraries, parks and recreation, and zoning. Other cities such as Del Mar and Vista arrange to have the County provide some or all of these services on a contract basis.
The county government is composed of the elected five-member Board of Supervisors, several other elected offices and officers including the Sheriff, the District Attorney, Assessor/Recorder/County Clerk, and Treasurer/Tax Collector, and numerous county departments and entities under the supervision of the Chief Administrative Officer such as the Probation Department. In addition, several entities of the government of California have jurisdiction conterminous with San Diego County, such as the San Diego Superior Court.
Under its foundational Charter, the five-member elected San Diego County Board of Supervisors is the county legislature. The board operates in a legislative, executive, and quasi-judicial capacity. As a legislative authority, it can pass ordinances for the unincorporated areas (ordinances that affect the whole county, like posting of restaurant ratings, must be ratified by the individual city). As an executive body, it can tell the county departments what to do, and how to do it. As a quasi-judicial body, the Board is the final venue of appeal in the local planning process.
As of January 2013 the members of the San Diego County Board of Supervisors are:
For several decades, ending in 2013, all five supervisors were Republican, white, graduates of San Diego State University, and had been in office since 1995 or earlier. The Board was criticized for this homogeneity, which was made possible because supervisors draw their own district lines and are not subject to term limits. (In 2010 voters put term limits in place, but they only apply going forward, so that each incumbent supervisor can serve an additional two terms before being termed out.) That pattern was broken in 2013 when Slater-Price retired; she was replaced by Democrat Dave Roberts, who won election to the seat in November 2012 and was inaugurated in January 2013.
The San Diego County Code is the codified law of San Diego County in the form of ordinances passed by the Board of Supervisors. The Administrative Code establishing the powers and duties of all officers and the procedures and rules of operation of all departments.
The county motto is "The noblest motive is the public good." County government offices are housed in the historic County Administration Center Building, constructed in 1935-1938 with funding from the Works Progress Administration.
Main article: Politics of San Diego County
As of June 2013, there are 1,556,739 registered voters in San Diego County. Of those, 547,897 (35.2%) are registered Democratic, 526,306 (33.8%) are registered Republican, 401,340 (25.8%) declined to state a political party, 51,993 (3.3%) are registered American Independence Party, 11,657 (0.7%) are registered Libertarian, 7,675 (0.5%) are registered Green, and 4,012 (0.3%) are registered Peace & Freedom.
San Diego County has historically been a Republican stronghold. The Republican presidential nominee carried the county in every presidential election from 1948 through 2004, except in 1992 when Bill Clinton won a plurality. In 2008, Barack Obama became the first Democratic presidential candidate to win a majority of votes in San Diego County since World War II; he won a majority of county votes again in 2012.
The city of San Diego itself is more Democratic than the county's average and has voted for Democrats in each presidential election since 1992. Various cities within the county are swing areas that have split their votes in elections since 2000.
One unique feature of the political scene is the use of Golden Hall, a convention facility next to San Diego's City Hall, as "Election Central." The County Registrar of Voters rents the hall to distribute election results. Supporters and political observers gather to watch the results come in; supporters of the various candidates parade around the hall, carrying signs and chanting; candidates give their victory and concession speeches and host parties for campaign volunteers and donors at the site; and television stations broadcast live from the floor of the convention center. The atmosphere at Election Central on the evening of election day has been compared to the voting portion of a political party national convention.
On Nov 4, 2008 San Diego County voted 53.8% for Proposition 8 which amended the California Constitution to ban same-sex marriages, thus restoring Proposition 22 which was overturned by a ruling from the California Supreme Court. However the city of San Diego, along with Del Mar, Encinitas, and Solana Beach, voted against Proposition 8.
Federal and state representation
In the U.S. House of Representatives, San Diego County is split between five congressional districts:
In the California State Assembly, San Diego County is split between seven legislative districts:
In the California State Senate, San Diego County is split between four legislative districts:
The following table includes the number of incidents reported and the rate per 1,000 persons for each type of offense.
Cities by population and crime rates
See also: Beer in San Diego County, California
Arising from an effort by the state government to identify regional economies, San Diego County and Imperial County are part of the Southern Border Region, one of nine such regions. As a regional economy, the Southern Border Region is the smallest but most economically diverse region in the state. However, the two counties maintain weak relations and have little in common aside from their common border.
San Diego County's agriculture industry was worth $1.85 billion in 2013, and is one of the top five egg producing counties in the United States. In 2013, San Diego County also had the most small farms of any county in the United States, and had the 19th largest agricultural economy of any county in the United States. According to the San Diego Farm Bureau, San Diego County is the United States leading producer of avocados, and nursery crops.
Tourism plays a large part in the economics of the San Diego metropolitan area. Tourists are drawn to the region for a well rounded experience, everything from shopping to surfing as well as its mild climate. Its numerous tourist destinations include Horton Plaza, Westfield UTC, Seaport Village, Westfield Mission Valley and Fashion Valley Mall for shopping. SeaWorld San Diego and Legoland California as amusement parks. Golf courses such as Torrey Pines Golf Course and Balboa Park Golf Course. Museums such as the San Diego Museum of Man, San Diego Museum of Art, Reuben H. Fleet Science Center, San Diego Natural History Museum, USS Midway Museum, and the San Diego Air and Space Museum. Historical places such as the Gaslamp Quarter, Balboa Park and Old Town San Diego State Historic Park. Wildlife refuges, zoos, and aquariums such as the Birch Aquarium at Scripps, San Diego Zoo's Safari Park, San Diego Zoo and San Diego-La Jolla Underwater Park. Outdoor destinations include the Peninsular Ranges for hiking, biking, mountainboarding and trail riding. Surfing locations include Swami's, Stone Steps Beach, Torrey Pines State Beach, Cardiff State Beach, San Onofre State Beach and the southern portion of Black's Beach.
The region is host to the second largest cruise ship industry in California which generates an estimated $2 million annually from purchases of food, fuel, supplies, and maintenance services. In 2008 the Port of San Diego hosted 252 ship calls and more than 800,000 passengers.
San Diego County contains three public state universities: University of California, San Diego; San Diego State University; and California State University, San Marcos. Major private universities in the county include University of San Diego (USD), Point Loma Nazarene University (PLNU), Alliant International University (AIU), and National University.
Within the county there are 24 public elementary school districts, 6 high school districts, and 12 unified school districts. There are also 5 community college districts.
There are two separate public library systems in San Diego County: the San Diego Public Library serving the city of San Diego, and the San Diego County Library serving all other areas of the county. In 2010 the county library had 33 branches and two bookmobiles; circulated over 10.7 million books, CDs, DVDs, and other material formats; recorded 5.7 million visits to library branches; and hosted 21,132 free programs and events. The San Diego County Library is one of the 25 busiest libraries in the nation as measured by materials circulated.
San Diego is the headquarters of the U.S. Navy's Eleventh Naval District and is the Navy's principal location for West Coast and Pacific Ocean operations. Naval Base San Diego, California is principal home to the Pacific Fleet (although the headquarters is located in Pearl Harbor). NAS North Island is located on the north side of Coronado, and is home to Headquarters for Naval Air Forces and Naval Air Force Pacific, the bulk of the Pacific Fleet's helicopter squadrons, and part of the West Coast aircraft carrier fleet.
The Naval Special Warfare Center is the primary training center for SEALs, and is also located on Coronado. The area contains five major naval bases and the U.S. Marines base Camp Pendleton. Marine Corps Base Camp Pendleton is the major West Coast base of the United States Marine Corps and serves as its prime amphibious training base. It is located on the Southern California coast, bordered by Oceanside to the south, San Clemente to the north, and Fallbrook to the east.
U.S. Marine Corps
U.S. Coast Guard
See also: Culture of San Diego
The culture of San Diego is influenced heavily by American and Mexican cultures due to its position as a border town, its large Hispanic population, and its history as part of Spanish America and Mexico. The area's longtime association with the U.S. military also contributes to its culture. Present-day culture includes many historical and tourist attractions, a thriving musical and theatrical scene, numerous notable special events, a varied cuisine, and a reputation as one of America's premier centers of craft brewing.
See also: Sports in San Diego
The most popular sports teams in the San Diego metropolitan area are the two major professional sports teams — the NFL's Chargers and MLB's Padres — and the college sports teams of the San Diego State Aztecs. The following table shows all sports teams in the San Diego metropolitan area that average over 8,000 fans per game:
Sites of interest
San Diego County is served by many newspapers. The major regional paper is The San Diego Union-Tribune, also known as U-T San Diego, is ranked 23rd in the country (by daily circulation) as of March 2013. The Union-Tribune serves both San Diego County and neighboring Imperial County. The former North County Times, based in Escondido and serving portions of Riverside County and North County, was purchased by the Union-Tribune in 2012 and closed down. For about a year after absorbing the North County Times the Union-Tribune published a North County edition, but the regional edition was later abandoned. The Los Angeles Times is also delivered in portions of the county. Many of the area's cities, towns and neighborhoods have their own local newspapers; the Union Tribune bought eight local weeklies in 2013 and is continuing to publish them as independent local newspapers. The San Diego Daily Transcript reports business and legal news. Privately published papers like the Military Press Newspaper and the Navy Dispatch serve the military community both on and off base.
County Television Network is a public-access television cable channel, offering a "hometown blend of C-SPAN, the Lifetime, History, Travel, and Discovery channels" for the county, and funded by fees paid by cable companies.
Main article: Transportation in San Diego County
Border crossings to Mexico
Light rail and local transit
The Port of San Diego
San Diego County has 18 federally recognized Indian reservations, more than any other county in the United States. Although they are typical in size to other Indian reservations in California (many of which are termed "Rancherías"), they are relatively tiny by national standards, and all together total 200.2 square miles (518.5 km²) of area.
The population ranking of the following table is based on the 2010 census of San Diego County.
† county seat
do you become famous? Helping people! Changing their lives and making
a difference in their lives.
COMMERCIAL REAL ESTATE LOANS SAN DIEGO CA, (949) 354-2485 SAN DIEGO CA COMMERCIAL REAL ESTATE LOANS, COMMERCIAL REAL ESTATE LOANS IN SAN DIEGO CA, commercial real estate financing, Shopping Center Loans, Apartment Complex Loans, Factory Loans, Industrial Loans, Office Building Loans, Warehouse Loans, Industrial Building Loans, Mixed=Use Loans, Single Use Loans, Owner Occupied Loans, Medical Building Loans, Commercial Real Estate Purchase, Commercial Real Estate Refinance, 1031 Exchanges, Business Acquisions Loans, Business Expansion Loans, Equipment Loans, Lines Of Creding, Long Term Working Capital, Debt Refinancing, commercial real estate, Commercial Mortgage California, California Commercial Real Estate,Commercial,Associates,commercial real estate,commercial real estate sales, commercial leasing, property management,commercial land,commercial real estate agents,commercial real estate realtors,cre agents,cre, Orange County CA, Los Angeles, San Diejo, Riverside, Inland Empire, San Francisco, San Jose, Santa Clara, Long Beach, Anaheim