LOS ANGELES-G.H. Palmer & Associates, a Los Angeles-basedluxury apartment developer, has refinanced its Colony Townhomes, a752-unit apartment complex in Santa Clarita, with a loan of $112million. The developer received the loan from the Department ofHousing and Urban Development.


The company took nearly a year to get the loan, but the termsand conditions were highly profitable. The loan-to-value is 82% andthe fixed-rate loan of 3.75% is based on a 35-year amortization.For the full story, go to Los Angeles BusinessJournal.

GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.