|
|
11/03/16
|
Advanced Real Estate Services Inc has refinanced a 479-unit multifamily portfolio with a new loan for $74 mil. The portfolio consists of five properties (Cantabria, Four Seasons, Lanter Bay, Solara and the Pines at Montclair) located in Orange, Los Angeles and San Bernardino counties.
The assets contain a combined 387k sf of rentable space and are situated over 23.8 acres of land. Each complex offers several floor plans that range anywhere from studios to three-bedroom units.
The transaction was arranged by Michael T. Elmore with NorthMarq Capital and is structured at typical financing terms, including: average interest rate of 3.78 percent; 7-year term; and 30-year amortization schedule. The loan was funded through a national bank.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
