(RealShareOrange County convenes at the Hyatt Regency,Irvine, August 16.)
STANTON, CA-Centerline Capital Group hasstructured a $35.9-million loan to refinancePark Place Seniors Apartments, a class-B,affordable senior-housing property here on behalfof the borrower, a large local developer working in conjunctionwith a local non-profit corporation. The loan was a FreddieMac CME to refinance the property.
Park Place Seniors Apartments is an age-restricted, class-Baffordable complex that was built in 1996 utilizing low-incomehousing tax credits. Now that the 15-year tax-credit complianceperiod has expired, the sponsor was able to take out the currentdebt with conventional financing at very attractive terms.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
