The financing for the 112-unit Hidden Springs Apartments has been secured by ARCS' Calabasas Hills branch through the Fannie Mae DUS program. The loan has a 10-year term and 30-year amortization at a rate of 6.65%.

Both lenders and investors continue to look favorably on the Inland Empire apartment market, as this area was the fastest growing region of Southern California during 2001. The tenant base is expected to stay fairly steady in the months ahead, as population growth in the area remains healthy.

In fact, industry experts predict that the area will lead the state in new housing units over the near term. "It is one of the few areas ripe for more housing," according to a 2002 forecast by Grubb & Ellis Co. "By the year 2030, a phenomenal 7 million people will inhabit the ever-growing Inland Empire," the report points out.