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MULTIFAMILY NEWS
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Positive Investments Buys 91-Unit Multifamily Asset in California’s San Joaquin Valley

10/30/15

Positive Investments has obtained a $5.9 mil, adjustable-rate Freddie Mac loan for the acquisition of Fox Hollow Apartments, a 91-unit apartment in Porterville, a CA community in the San Joaquin Valley, about 160 miles north of Los Angeles. The financing was originated by Andrew Kwok of Capital One Multifamily, out of Newport Beach.

The financing offers a low rate and flexible prepayment terms. The loan has a seven-year term with a starting rate in the mid-2 percent range, a one-year lockout and a 1 percent prepayment penalty thereafter.

Built in 1981, Fox Hollow has been well maintained. “This property is a good fit with our portfolio,” said Srinivas Yalamanchili, a principal with Positive Investments.





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