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December 6, 2023
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E&S Ring Lands $46 Mil of Refi Loans on Trio of Bay Area Res Properties


E&S Ring has secured $46 mil in refi loans on a three-property multifamily portfolio in Pleasanton, CA. The garden-style portfolio consists of a combined 274 units and features community amenities including swimming pools and sundecks, barbeque and picnic areas, landscaped grounds, covered parking, fitness centers, and on-site leasing and management.

Nathan Prouty and Andrew Slaton with Northmarq arranged 10-year, fixed-rate loans with full interest-only terms for each property. The loans were funded through Northmarq’s Fannie Mae DUS program.

Pleasanton is located in eastern Alameda County, at the intersection of I-680 and I-580 in the Bay Area. Located 33 miles east of San Francisco and 35 miles northeast of San Jose, Pleasanton offers a high quality of life with award-winning school districts and its bike friendly community. The properties financed in these deals include:

• Pleasanton Glen: A garden-style community (built in 1972 and last renovated in 2005) containing 171 units and located at 3955 Vineyard Ave. The community includes a pool and sundeck, landscaped courtyard, barbeque and picnic area, fitness center, covered parking, and on-site property manager.

• Pleasanton Heights: The 52-unit garden style apartment community is located at 3800 Vineyard Ave. It was built in 1964 and acquired by the borrower in 2011, after which they performed a major renovation. The property consists of five two-story buildings surrounded by covered surface parking. The unit mix features 30 one-bedroom units and 22 two-bedroom units. Community amenities include a pool and sundeck, landscaped courtyard, barbeque and picnic areas, fitness center, and assigned covered parking.

• Pleasanton Place: The 51-unit community (built in 1972 and renovated in 2007) is located at 4408 Mohr Ave. Historic Downtown Pleasanton is a 10-minute walk away offering popular dining, shopping, and entertainment. Community amenities include a pool with sun deck, picnic and barbecue area, assigned covered parking, and pet-friendly floor plans.

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