The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 9, 2023
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
L.A. Area Multifamily Portfolio Financed with $35.6 Mil in Fannie Mae Money


Berkadia arranged $35.6 mil in financing, including an $18.1 mil cash out, on a 10-property, 305-unit multifamily portfolio in the Los Angeles area. The properties are located in Los Angeles, Santa Monica and the San Fernando Valley community of Northridge, also part of the city of Los Angeles.

The loan portfolio is comprised of 10 individual loans with the following terms: 12-year, fixed rate first mortgages, with an interest rate of 3.82% and full-term interest-only payments. The financing was originated by Aaron Abelson of Berkadia’s Chicago office and funded through the Fannie Mae Multifamily Small Loan program.

“Berkadia was able to accomplish the borrower’s goal of rate locking at loan application via a Fannie Mae Streamlined Rate Lock. The loans were priced ‘all or nothing’ but not crossed and all of the loans were funded in fewer than 30 days from a signed application,” said Abelson. “In addition, the borrower was able to obtain significant cash out proceeds to return equity to the partners in order to fund anticipated capital projects, as well as deploy capital into future acquisition targets.”

Return to the Archive page




Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media