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8/22/22
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Interstate Equities Corporation has purchased The Vines at Riverpark, a 164-unit, two-story, attached townhome community in Oxnard. Located at 3040 North Oxnard Blvd, the property is part of Riverpark, a new, 700-acre, master-planned community that is acclaimed for its open-space planning.
Peter Smyslowski, Charles Halladay, Jonah Aelyon, Spencer Bergthold and Elijah Lax with JLL Capital Markets arranged $69.75 mil in acquisition financing for the deal. The two-year, floating-rate loan was funded through Prime Finance and features four one-year extensions.
The property features two- and three-bedroom townhomes with an average size of 1.4k sf. Units feature private two-car garages, full-size washers and dryers, separate water heaters, central air and heat, front porches or balconies, stainless-steel appliances and granite countertops.
The residences of Riverpark are connected through a network of parks, jogging trails, bike paths and playgrounds, all within walking distance of The Collection, a 650,000-square-foot, open-air shopping, dining and entertainment destination. Additionally, residents of The Vines benefit from convenient access to Interstate 101, providing easy connectivity to Los Angeles in one hour, Malibu in 45 minutes and Santa Barbara in 35 minutes.
“This acquisition presents IEC with an opportunity to provide a single-family home alternative to renters within walking distance to schools, parks and The Collection at Riverpark; a major Lifestyle Center,” said Brendan Gibney, Director at Interstate Equities Corporation. “The Oxnard-Ventura Market has the most severe housing shortage in the United States with an increasingly diverse renter base looking for larger, well-appointed housing with proximity to high-end retail and coastal amenities.”
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