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May 24, 2018
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SoCal Multifamily Portfolio Refinanced with $130 Mil in Freddie Mac Money


Advanced Real Estate Services has secured $130.7 mil in refinancing on a portfolio of three multifamily properties located in Southern California. The properties contain a combined 654 units.

The transaction was structured with a 10-year term with one year of interest-only payments followed by a 30-year amortization schedule. NorthMarq Capital’s Michael T. Elmore arranged the financing through its seller/servicer relationship with Freddie Mac.

According to Elmore, Advanced Real Estate Services received significant cash-out proceeds from the financing for continuing asset improvements and future acquisitions. The financing consists of the following:

• $60.65 mil on Sherwood, a 297-unit property located at 14500 McNab Ave in Bellflower

• $20 mil on Twin Pines, a 115-unit property located at 2880 West Ball Rd in Anaheim

• $50 mil on Park Plaza, a 243-unit property located at 805 West Stevens Ave in Santa Ana

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