Los AngelesHunt Real Estate Capital has provided a $64.14 million loan for the acquisition of Park Western Apartments, a 216-unit affordable housing community in San Pedro. The Fannie Mae M.TEB loan has a 17-year term, 40-year amortization and provides significantly greater loan proceeds to support a substantial rehab budget.

Built in 1969, the property is located on a 7.7-acre site at 1327 West Park Western Drive. It features 32 one-bedroom units, 128 two-bedroom apartments, 32 three-bedroom units, 24 four-bedroom apartments, and a 1,300-square-foot maintenance shop.

According to RBC Capital Markets, this was the second largest Fannie M.TEB loan made and featured the lowest rate closed in the program since 2016.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.