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THOUSAND OAKS, CA-New owners have secured $100 million inacquisition funding for the purchase of the Knolls Apartments andWestlake Canyon Apartments in a financing arranged by NewmarkRealty Capital Inc. Knolls Apartments Investor LLC andWestlake/Canyon Apartments Investor LLC acquired the two complexes,which comprise 672 units, in a direct deal between the buyers andthe seller, a private investment group.

Principal Mark Ritchie of Newmark Realty Capital tellsGlobeSt.com that the two complexes were nearly 100% occupied at thetime the loan closed. The lender was TIAA-CREF, which provided a10-year loan at what Ritchie calls "a very competitive rate."

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