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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