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8/28/20
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San Mateo-based JB Matteson Inc has secured $51.5 mil in permanent debt to refinance Vanoni Ranch Apartments, a 316-unit, garden-style apartment and townhome community located in Ventura.
The apartment community features side-by-side washer/dryers, nine-foot ceilings, NEST thermostats, roman bathtubs, and spacious walk-in closets. The community amenities compete with the top of the market and offer residents 24-hour access to a fitness center, yoga room, barbeque and picnic area, pool and spa. business center, and lounge.
Dennis Williams and Tom Wight of NorthMarq, along with colleagues Jackie Goldsmith and Soraya Rios, arranged the non-recourse financing through a correspondent life insurance company. The 10-year term is structured with interest-only debt service payments for the full term.
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