(RealShareOrange County convenes at the Hyatt Regency, IrvineThursday,August 16. Also, save the date: RealShareApartments comes to the Westin Bonaventure, LosAngeles, October 24.)
ORANGE COUNTY, CA-Beech Street Capital LLCprovided $28 million in Freddie Mac loans torefinance a portfolio of threeapartment complexes in Orange County, CA. The238-unit portfolio consists of Rancho Yorba Apartments in Tustin,Santa Clara Apartments in Santa Ana, and Villa Pointe Apartments inOrange.
The sponsor, local real estate investor PatrickCadigan, aimed to avoid an uptick in interest rates whileminimizing prepayment penalties on existing loans, according toBeech Street. Cadigan is an investor who owns 10 apartment projectsin Orange County totaling 1,610 units. He is exclusivelyrepresented by Carl Greenwood and JimMcKenzie, general partners of Tustin-basedGreenwood & McKenzie, a full-service realestate investment firm.
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