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MULTIFAMILY NEWS
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Glendora Res Property Acquired for $14.5 Mil

4/16/15

Venture West Funding arranged an $8 mil loan for the $14.5 mil purchase of Glendora Park Place Apartments in Glendora. The property was built in 2006 and is comprised of 50 residential units and three retail suites.

The property features 50 large, high-quality residential units and commercial space currently occupied by two dental offices. Apartment amenities include gourmet kitchens, hardwood floors and a spacious clubhouse.

The buyer represented by Frank Dinari of Sperry Commercial Irvine. Venture West’s Loren Tirone arranged the financing, which was funded through Umpqua Bank. The non-recourse loan is at a very competitive, seven-year fixed rate with five years of interest-only payments.







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