Carmel, A&M Transact on Briarwood Square Apts.

STANTON, CA—GlobeSt.com has learned that Briarwood Square, a 194-unit multifamily property at 7545 Katella Ave. here, was sold by Carmel Partners to A&M Properties for $40 million. JLL managing director Joe Leon and VP Javier Rivera led the firm’s team on the transaction.

As GlobeSt.com reported earlier this month, Walker & Dunlop VP Jason Krupoff led the team that structured a $24.9-million acquisition loan for Briarwood Square Apts. This was the first Freddie Mac loan for the Southern California-based borrower. In order to meet the tight timeframe stipulated by the borrower, Walker & Dunlop expedited the underwriting package, enabling Freddie Mac to process the loan and issue a firm commitment in 17 days, Krupoff and his team structured and closed the transaction 26 days after receiving the signed application, over the holiday season.