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3/19/26
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Decron Properties has obtained an $82.9 mil refi loan on River Ranch Apartments, a 398-unit, garden-style apartment community in Simi Valley. The money will be used to pay off existing bank debt while getting cash out that will allow the owners to continue to operate River Ranch at a high level.
Image from www.decron.com |
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Jake Roberts and Mike Guterman, both senior vice presidents in BWE’s Los Angeles office, originated the new Fannie Mae financing on behalf of Decron. The five-year, fixed-rate loan has the lowest rate BWE has secured on agency financing in more than three years.
Initially built in 1985 and recently renovated in 2016, River Ranch is located at 1518 Patricia Ave, south of the 118 Fwy and east of First Ave. The property contains a mix of one-, two-, and three-bedroom arrangements. Unit amenities include stainless steel appliances, energy efficient kitchens with granite countertops, and private patios and balconies. The River Ranch community also includes numerous amenities such as a pool, dog park, state-of-the-art fitness center, and a resident clubhouse. Located just minutes from the Ronald Reagan Freeway, residents at River Ranch Apartments can easily access shopping, restaurants, and entertainment in Simi Valley.
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