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10/19/17
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BERKADIA - Berkadia secured a $62.5 mil loan to finance Amerige Pointe, a 292-unit multifamily property located in Fullerton. Located at 1001 Starbuck St, Amerige Pointe consists of studio, one-, two- and three-bedroom units. The property is located directly across from an Albertson’s- and Target-anchored retail center. Unit amenities include direct access and detached garages, washers and dryers, nine-foot ceilings, island kitchens and oval roman tubs. Community amenities include an indoor sports court, a conference room with a business center, a theatre, a game room, a fully-equipped fitness center and a resort-style pool and spa. Berkadia’s Jackson Cloak secured the financing, a seven-year fixed-rate treasury loan. It features a 3.5% interest rate with full-term interest-only. It was funded through Quadrant-AXA Equitable Life Insurance Company.
GREYSTONE – Greystone has provided $41.6 mil in Fannie Mae financing on a SoCal multifamily portfolio on behalf of Malik Corporation. The loans were originated by Matt Stevens of Greystone’s San Diego office with Don Salka of First Pacific Financial acting as correspondent on the transaction. The refinanced properties, which contain between 8 and 32 units each, all received 10-year fixed rate Fannie Mae small loans. The Class A properties are located in Brentwood, Studio City, Beverly Hills adjacent, Century City, and Hancock Park.
ARCHWAY FUND - Archway Fund recently funded a $7.5 mil refi loan on a 110k sf, 100-unit Class B multi-family complex in Las Vegas. The property is located about 2.75 miles east of the Las Vegas Strip in the University/Strip Apartment sub-market. The financing, which replaced an existing CMBS loan, was funded at 75% LTV. It has a three-month yield maintenance and an 8.5% IR.
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