X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BUENA PARK, CA-A $3.2-million mortgage loan has been secured for a multifamily complex in Buena Park.

The financing, which has been provided by PW Funding Inc., has a loan to value of 68% and a 6.68% interest rate. Funded under Fannie Mae’s DUS program, the loan has debt service coverage of 1.30x.

The funds have been secured for the Sunrise Apartments complex in Buena Park. Built in 1977, the property is comprised of three two-story, garden-style buildings. The 56-unit complex consists of one- and two-bedroom apartments. Amenities include an outdoor pool, laundry facilities, dishwashers, garbage disposals, balconies and patios.

PW Funding is a subsidiary of Charter Municipal Mortgage Acceptance Co. Based in New York, PW Funding is a full-service direct mortgage lender specializing in the financing of conventional apartments, commercial properties, senior housing and affordable housing properties nationwide. The company offers a complete line of multifamily products, such as programs from Fannie Mae, Freddie Mac, HUD, Wall Street conduits and life insurance companies

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.