The owner of a 10-property, 305-unit multifamily portfolio in Southern California has secured $35 million in financing. The financing package includes an $18.1 million cash out.
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.
Managing director Aaron Abelson of Berkadia's Chicago office secured the financing through the Fannie Mae Multifamily Small Loan program.
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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.
